Alexander C. Karp Sells 4,500,000 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Palantir Technologies Stock Up 0.6 %

Palantir Technologies stock traded up $0.34 during mid-day trading on Thursday, reaching $55.87. The company had a trading volume of 121,369,861 shares, compared to its average volume of 57,446,848. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $56.47. The company has a 50 day moving average of $39.10 and a 200-day moving average of $30.15. The firm has a market cap of $125.12 billion, a price-to-earnings ratio of 278.85 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 10.41%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. On average, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLTR shares. Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday. Mizuho increased their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Finally, Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.71.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walter & Keenan Wealth Management LLC IN ADV boosted its stake in Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after acquiring an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC raised its holdings in shares of Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during the last quarter. Quantum Private Wealth LLC increased its holdings in Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after buying an additional 250 shares during the last quarter. LCM Capital Management Inc increased its holdings in Palantir Technologies by 0.9% during the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after buying an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its holdings in Palantir Technologies by 0.6% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock worth $1,799,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.