Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $150,233,900.96 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Palantir Technologies Trading Down 4.9 %

NYSE PLTR opened at $41.56 on Friday. The firm has a market capitalization of $93.07 billion, a P/E ratio of 244.47 and a beta of 2.72. The business has a fifty day simple moving average of $37.77 and a 200 day simple moving average of $29.36. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.14.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its position in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PLTR. Jefferies Financial Group increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target on the stock. Mizuho increased their price target on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Finally, Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.86.

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.