Palantir Technologies (NASDAQ:PLTR) Insider Sells $33,737,042.86 in Stock

Key Points

• Palantir Technologies' CEO, Alexander Karp, sold over $33.7 million worth of stock, reducing his ownership by 3.35% and leaving him with approximately $973.7 million in shares.
• The company's stock price recently increased to $158.74, reflecting a strong trading volume and a significant rise from its 12-month low of $29.31.
• Palantir reported a 48% year-over-year revenue growth, achieving $1 billion in revenue for the quarter and exceeding analysts' earnings estimates.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Alexander Karp sold 222,878 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $2.56 during mid-day trading on Friday, reaching $158.74. The company had a trading volume of 101,782,072 shares, compared to its average volume of 77,128,816. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The stock has a market capitalization of $376.59 billion, a PE ratio of 709.91, a price-to-earnings-growth ratio of 8.80 and a beta of 2.60. The stock's 50 day moving average is $153.18 and its 200-day moving average is $121.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLTR. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Loop Capital upped their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $136.61.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Accuvest Global Advisors increased its stake in Palantir Technologies by 0.7% during the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company's stock valued at $1,232,000 after acquiring an additional 63 shares during the period. Ignite Planners LLC raised its holdings in Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock valued at $2,094,000 after acquiring an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. raised its holdings in Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after acquiring an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after acquiring an additional 73 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its holdings in Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after acquiring an additional 73 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.