Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 38,093 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) insider Alexander C. Karp sold 38,093 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total value of $2,400,239.93. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $405,296,576.58. This represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Palantir Technologies Price Performance

Shares of PLTR traded down $0.87 during midday trading on Wednesday, hitting $62.11. The stock had a trading volume of 58,991,743 shares, compared to its average volume of 58,816,992. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00. The firm has a market cap of $141.49 billion, a PE ratio of 310.57 and a beta of 2.70. The stock's 50 day moving average is $44.83 and its 200 day moving average is $32.84.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PLTR shares. DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Raymond James lowered Palantir Technologies from an "outperform" rating to a "market perform" rating in a research note on Monday, September 23rd. Mizuho boosted their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an "underperform" rating in a research note on Tuesday, November 5th. Citigroup lifted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a "hold" rating in a research report on Thursday, August 22nd. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $31.71.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC acquired a new stake in Palantir Technologies during the 1st quarter worth $262,000. Orion Portfolio Solutions LLC boosted its holdings in Palantir Technologies by 7.2% in the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company's stock valued at $1,351,000 after purchasing an additional 3,922 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Palantir Technologies by 29.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 79,854 shares of the company's stock valued at $1,837,000 after buying an additional 18,170 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Palantir Technologies by 95.6% during the first quarter. UniSuper Management Pty Ltd now owns 26,400 shares of the company's stock worth $607,000 after purchasing an additional 12,900 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Palantir Technologies in the first quarter worth $59,000. Institutional investors and hedge funds 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.

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.