Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $5,016,755.25 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $122.29 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $133.49. The business has a 50-day simple moving average of $101.88 and a two-hundred day simple moving average of $87.09. The firm has a market cap of $286.81 billion, a price-to-earnings ratio of 643.67, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 EPS. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on PLTR. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Morgan Stanley lifted their price target 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. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. DA Davidson boosted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, UBS Group boosted their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.95.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $1,360,191,000. Nuveen LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD increased its position in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock valued at $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. 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.