Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 1,007,496 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,007,496 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $411,407,221.68. The trade was a 13.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Palantir Technologies Stock Performance

NYSE:PLTR traded down $0.87 during midday trading on Wednesday, reaching $62.11. 58,991,743 shares of the stock traded hands, compared to its average volume of 58,816,992. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The business has a 50-day moving average of $44.83 and a two-hundred day moving average of $32.84. The stock has a market capitalization of $141.49 billion, a PE ratio of 310.57 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after buying an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC lifted its stake 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 worth $3,251,000 after buying an additional 250 shares in the last quarter. Quantum Private Wealth LLC lifted its stake in shares of Palantir Technologies by 1.1% in 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 in the last quarter. Truvestments Capital LLC lifted its stake in shares of Palantir Technologies by 2.4% in the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after buying an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc lifted its stake in shares of Palantir Technologies by 0.9% in 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup boosted their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Bank of America upped their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Mizuho upped their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Company Profile

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.