Palantir Technologies Inc. (NYSE:PLTR) Insider Alexander C. Karp Sells 1,007,496 Shares

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. The trade was a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Palantir Technologies Trading Down 1.4 %

PLTR opened at $62.11 on Thursday. The firm’s fifty day simple moving average is $44.83 and its 200 day simple moving average is $32.84. The stock has a market capitalization of $141.49 billion, a P/E ratio of 310.57 and a beta of 2.70. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $66.00.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the firm earned $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PLTR. Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.71.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PLTR. State of Alaska Department of Revenue boosted its stake in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management grew its stake in Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares in the last quarter. Heritage Wealth Management Inc. CA acquired a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $1,076,000. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $6,339,000. 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.