Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $283,950,000.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. The trade was a 41.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Palantir Technologies Stock Up 11.2 %

NYSE:PLTR traded up $6.63 during trading hours on Friday, reaching $65.81. The company had a trading volume of 154,739,757 shares, compared to its average volume of 58,381,973. The stock has a 50-day moving average of $42.48 and a two-hundred day moving average of $31.65. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00. The firm has a market capitalization of $147.38 billion, a PE ratio of 318.82 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 for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Institutional Trading of Palantir Technologies

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Finally, FMR LLC lifted its stake in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLTR. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Citigroup upped their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six investment 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. According to data from MarketBeat, Palantir Technologies currently has a consensus 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.