Alexander C. Karp Sells 39,825 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

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

Palantir Technologies Stock Up 0.8%

NASDAQ:PLTR opened at $123.31 on Friday. The stock’s fifty day moving average is $102.66 and its two-hundred day moving average is $87.59. Palantir Technologies Inc. has a 52 week low of $20.64 and a 52 week high of $133.49. The stock has a market capitalization of $289.21 billion, a price-to-earnings ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS 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 company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter last year, the company posted $0.08 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Institutional Trading of Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in PLTR. Mather Group LLC. boosted its position in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies during the 4th quarter worth $3,233,000. Grange Capital LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth about $5,829,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Palantir Technologies by 66.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 417,956 shares of the company’s stock valued at $31,610,000 after purchasing an additional 166,636 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Loop Capital upped their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Robert W. Baird raised their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Northland Securities boosted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Finally, 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. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus 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.