Palantir Technologies Inc. (NASDAQ:PLTR) Insider Alexander C. Karp Sells 39,825 Shares

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $1.02 during mid-day trading on Monday, reaching $123.31. The company had a trading volume of 65,753,315 shares, compared to its average volume of 77,871,799. The firm has a market cap of $289.21 billion, a price-to-earnings ratio of 649.03, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a one year low of $20.64 and a one year high of $133.49. The business's 50-day simple moving average is $102.66 and its 200 day simple moving average is $88.04.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLTR. Loop Capital lifted their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. UBS Group boosted their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. DA Davidson boosted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Mizuho boosted their price target on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $83.95.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chelsea Counsel Co. increased its stake in shares of Palantir Technologies by 42.3% in the 1st quarter. Chelsea Counsel Co. now owns 1,530 shares of the company's stock valued at $129,000 after purchasing an additional 455 shares during the last quarter. Indiana Trust & Investment Management Co grew its position in Palantir Technologies by 404.5% in the first quarter. Indiana Trust & Investment Management Co now owns 1,690 shares of the company's stock valued at $143,000 after acquiring an additional 1,355 shares during the last quarter. McAdam LLC grew its position in Palantir Technologies by 78.4% in the first quarter. McAdam LLC now owns 12,159 shares of the company's stock valued at $1,026,000 after acquiring an additional 5,344 shares during the last quarter. Acadian Asset Management LLC raised its stake in Palantir Technologies by 224.0% during the first quarter. Acadian Asset Management LLC now owns 554,978 shares of the company's stock worth $46,824,000 after acquiring an additional 383,677 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Palantir Technologies by 2.1% in the first quarter. IFM Investors Pty Ltd now owns 382,990 shares of the company's stock worth $32,324,000 after acquiring an additional 7,800 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.