Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Palantir Technologies Stock Down 1.4 %
Shares of NYSE PLTR traded down $0.87 during trading hours on Wednesday, reaching $62.11. 58,991,743 shares of the stock traded hands, compared to its average volume of 58,816,992. The company's 50-day simple moving average is $44.83 and its two-hundred day simple moving average is $32.84. The company has a market capitalization of $141.49 billion, a P/E ratio of 310.57 and a beta of 2.70. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00.
Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during 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 firm's revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Palantir Technologies
A number of large investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock worth $27,000 after buying an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the second quarter worth about $30,000. 45.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on PLTR. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Wedbush boosted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Mizuho boosted their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an "underperform" rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.71.
Check Out Our Latest Analysis on PLTR
About Palantir Technologies
(
Get Free Report)
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.
Further Reading
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