Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $45,371,734.98 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Palantir Technologies Stock Up 1.4%

Palantir Technologies stock traded up $1.71 during mid-day trading on Thursday, hitting $122.29. 75,223,929 shares of the company's stock traded hands, compared to its average volume of 77,532,872. The company has a market cap of $286.81 billion, a PE ratio of 643.67, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a one year low of $20.63 and a one year high of $133.49. The firm has a 50 day moving average price of $101.18 and a 200 day moving average price of $86.53.

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

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. DA Davidson lifted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley lifted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average target price of $83.95.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mechanics Financial Corp bought a new position in Palantir Technologies during the first quarter valued at about $25,000. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the fourth quarter worth about $27,000. Wealth Preservation Advisors LLC acquired a new stake in Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC bought a new position in Palantir Technologies during the first quarter worth about $27,000. Finally, First PREMIER Bank bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

About Palantir Technologies

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.

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