Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.7% on Insider Selling

Key Points

• Palantir Technologies' stock price fell 1.7% following a significant insider sale of shares by CEO Alexander C. Karp, who sold 186,194 shares for approximately $29 million.
• Despite the insider selling, analysts remain generally bullish, with Bank of America raising their target price to $180 and multiple firms issuing "buy" or "outperform" ratings.
• The company's recent earnings report exceeded expectations, showing a revenue increase of 48% year-over-year, with a net margin of 22.18%.

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) traded down 1.7% on Monday after an insider sold shares in the company. The company traded as low as $149.37 and last traded at $155.97. 41,752,706 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 91,849,836 shares. The stock had previously closed at $158.74.

Specifically, insider Alexander C. Karp sold 186,194 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $28,999,715.50. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $1,001,824,183.50. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. In related news, insider Stephen Andrew Cohen sold 160,164 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $24,945,543.00. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at $92,204. The trade was a 99.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PLTR shares. Bank of America raised their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and upped their target price for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Citigroup restated a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Price Performance

The company has a market capitalization of $370.03 billion, a PE ratio of 519.93, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. The firm's fifty day simple moving average is $153.61 and its 200 day simple moving average is $121.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS 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 analysts' expectations of $939.29 million. During the same quarter last year, the company earned $0.09 EPS. The business's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Institutional Trading of Palantir Technologies

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