Alexander C. Karp Sells 1,620,395 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) insider Alexander C. Karp sold 1,620,395 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $406,583,028.18. This trade represents a 20.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Palantir Technologies Stock Up 4.8 %

NYSE:PLTR traded up $2.97 during mid-day trading on Friday, hitting $64.33. 61,258,195 shares of the stock traded hands, compared to its average volume of 58,817,914. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00. The stock has a market capitalization of $146.55 billion, a price-to-earnings ratio of 321.67 and a beta of 2.70. The firm's 50 day moving average is $45.94 and its two-hundred day moving average is $33.31.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm's revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 5th. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. 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. Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Tuesday, August 6th. Finally, Northland Capmk upgraded Palantir Technologies to a "hold" rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $31.71.

Institutional Trading of Palantir Technologies

Large investors have recently modified their holdings of the company. State Street Corp lifted its stake in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after purchasing an additional 808,444 shares during the period. ARK Investment Management LLC boosted its stake in shares of Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company's stock valued at $329,875,000 after purchasing an additional 277,623 shares in the last quarter. Finally, FMR LLC raised 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 worth $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

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.

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