Insider Selling: Palantir Technologies (NASDAQ:PLTR) Insider Sells $86,057,506.92 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Alexander Karp sold 492,348 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $1,124,294,375.82. The trade was a 7.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palantir Technologies Stock Down 2.3%

Palantir Technologies stock traded down $4.05 on Monday, hitting $175.89. The company’s stock had a trading volume of 35,028,807 shares, compared to its average volume of 47,641,380. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52. The firm has a market cap of $422.67 billion, a P/E ratio of 150.33, a price-to-earnings-growth ratio of 2.54 and a beta of 1.59. The company has a fifty day moving average price of $138.90 and a 200-day moving average price of $140.69.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm’s revenue was up 92.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. Analysts anticipate that Palantir Technologies Inc. will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $29,000. Ballast Advisors LLC bought a new position in Palantir Technologies during the 1st quarter worth $29,000. Cornerstone Financial Management LLC acquired a new position in Palantir Technologies during the 4th quarter worth about $31,000. Whipplewood Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $32,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s artificial-intelligence platform continues to attract strong demand from U.S. commercial and government customers. Recent coverage highlights its modular sales model, expanding commercial business and strong government relationships as competitive advantages. PLTR vs. PATH: Which AI-Driven Software Stock is the Better Buy?
• Positive Sentiment: Optimistic analysts and commentators point to Palantir’s accelerating revenue, a reported Rule of 40 score of 155 and the possibility of further gains toward $250. The company’s latest quarter also featured revenue growth of nearly 93% year over year and earnings above consensus estimates. Prediction: Palantir Stock Will Hit $250 on This Date
• Positive Sentiment: Palantir’s reported profitability remains a major attraction: second-quarter net income was approximately $1.06 billion on $1.94 billion of revenue, implying a roughly 55% net margin. However, coverage notes that interest income and other non-operating factors contributed materially to that figure. Palantir Keeps 55 Cents of Every Revenue Dollar as Profit
• Neutral Sentiment: Palantir’s stock has risen about 46% in August following its earnings report, leading investors and analysts to debate whether its strong fundamentals justify buying after the rally. Technical coverage says the shares remain in or near a buy zone but suggests waiting for a better entry point. Palantir has been on a tear this year. Two numbers signal investors should protect their gains
• Negative Sentiment: Rising long-term Treasury yields are pressuring high-multiple growth stocks. With Palantir trading at a very rich earnings multiple, investors may be reassessing the valuation and the present value of its future profits. Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
• Negative Sentiment: Cathie Wood’s investment firm reportedly sold about $27.2 million of Palantir shares after the rally. The sale adds near-term supply and reinforces concerns that some investors are locking in gains at stretched valuations. Cathie Wood Dumps $27.2 Million of Palantir Stock After 43% Rally

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PLTR shares. Northland Securities set a $200.00 price target on Palantir Technologies in a research report on Tuesday, August 4th. President Capital raised Palantir Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.50 to $133.00 in a research report on Monday, June 29th. Mizuho lifted their price target on Palantir Technologies from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Roth Capital initiated coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They issued a “buy” rating on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $230.00 target price on shares of Palantir Technologies in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.19.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.