Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $64,439,444.16 in Stock

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

Palantir Technologies Trading Down 1.4 %

NYSE PLTR opened at $62.11 on Thursday. The firm’s 50 day simple moving average is $44.83 and its 200 day simple moving average is $32.84. The firm has a market capitalization of $141.49 billion, a price-to-earnings ratio of 310.57 and a beta of 2.70. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00.

Palantir Technologies (NYSE:PLTR) last announced 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. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research reports. DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Mizuho boosted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Citigroup increased their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Six 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.71.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp raised its position in Palantir Technologies by 37.0% in the third quarter. M&T Bank Corp now owns 170,043 shares of the company’s stock valued at $6,326,000 after purchasing an additional 45,965 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $381,000. Sunbelt Securities Inc. grew its holdings in Palantir Technologies by 700.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company’s stock worth $73,000 after acquiring an additional 1,715 shares during the last quarter. Toronto Dominion Bank increased its position in Palantir Technologies by 476.0% in the 3rd quarter. Toronto Dominion Bank now owns 1,073,864 shares of the company’s stock valued at $39,948,000 after acquiring an additional 887,442 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies during the third quarter valued at $639,000. 45.65% of the stock is owned by institutional investors.

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.