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

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Palantir Technologies Trading Up 0.6 %

PLTR opened at $55.87 on Friday. The stock has a fifty day moving average price of $39.10 and a 200 day moving average price of $30.15. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $56.47. The stock has a market cap of $125.12 billion, a price-to-earnings ratio of 279.35 and a beta of 2.70.

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

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA acquired a new stake in shares of Palantir Technologies in the third quarter worth about $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth about $6,339,000. Seven Grand Managers LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth about $930,000. Finally, Silvant Capital Management LLC raised its stake in shares of Palantir Technologies by 28.2% in the 3rd quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock valued at $8,613,000 after acquiring an additional 50,883 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PLTR. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday. Mizuho upped their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Six 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.71.

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.