Alexander C. Karp Sells 358,982 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $123.31 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49. The stock has a market cap of $289.21 billion, a price-to-earnings ratio of 649.03, a PEG ratio of 10.84 and a beta of 2.68. The firm’s 50-day simple moving average is $102.66 and its 200 day simple moving average is $87.59.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Assenagon Asset Management S.A. lifted its position in shares of Palantir Technologies by 16.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,172 shares of the company’s stock worth $3,265,000 after buying an additional 6,160 shares in the last quarter. Tallon Kerry Patrick bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $289,000. Wedge Capital Management L L P NC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $302,000. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $876,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Palantir Technologies by 83.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,062 shares of the company’s stock worth $383,000 after buying an additional 2,309 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLTR. Morgan Stanley increased their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Mizuho increased their price target on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Finally, Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

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.