Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 1,823,602 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,823,602 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Palantir Technologies Stock Up 11.2 %

Shares of NYSE:PLTR opened at $65.81 on Friday. The company has a market cap of $147.38 billion, a PE ratio of 329.07 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. The firm has a 50-day simple moving average of $43.19 and a 200 day simple moving average of $31.94.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during 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%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Envestnet Portfolio Solutions Inc. grew its position in shares of Palantir Technologies by 9.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after acquiring an additional 2,427 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Palantir Technologies by 32.0% in the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after purchasing an additional 6,002 shares during the period. Sei Investments Co. raised its holdings in shares of Palantir Technologies by 20.1% during the first quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after buying an additional 50,159 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Palantir Technologies by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after buying an additional 25,258 shares during the period. Finally, US Bancorp DE grew its holdings in Palantir Technologies by 15.9% in the 1st quarter. US Bancorp DE now owns 198,930 shares of the company’s stock worth $4,577,000 after buying an additional 27,322 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Monness Crespi & Hardt reduced their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, Northland Securities lifted their price objective 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 analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.