Palantir Technologies Inc. (NYSE:PLTR) Insider Alexander C. Karp Sells 1,823,602 Shares

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Palantir Technologies Stock Up 11.2 %

Palantir Technologies stock traded up $6.63 during trading hours on Friday, hitting $65.81. The stock had a trading volume of 154,739,757 shares, compared to its average volume of 58,381,973. The company has a 50-day moving average of $42.48 and a two-hundred day moving average of $31.65. The company has a market cap of $147.38 billion, a PE ratio of 318.82 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates 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. As a group, analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PLTR shares. Wedbush lifted their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Bank of America lifted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. DA Davidson lifted their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Mizuho lifted their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Finally, Northland Securities lifted their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s 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

A number of large investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $30,000. 45.65% of the stock is currently owned by institutional investors.

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.