Palantir Technologies (NASDAQ:PLTR) Insider Alexander Karp Sells 492,348 Shares

Palantir Technologies Inc. (NASDAQ:PLTR) insider Alexander Karp sold 492,348 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the completion of the sale, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Price Performance

Shares of PLTR stock opened at $175.89 on Tuesday. The company has a market capitalization of $422.67 billion, a P/E ratio of 150.33, a P/E/G ratio of 2.54 and a beta of 1.59. The company’s 50-day simple moving average is $139.73 and its two-hundred day simple moving average is $140.82. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly 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 firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The company’s revenue was up 92.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 1.27 EPS for the current fiscal year.

Key Stories Impacting Palantir Technologies

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Basepoint Wealth LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $29,000. Ballast Advisors LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at about $29,000. Cornerstone Financial Management LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at 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. purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $35,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research reports. Phillip Securities upped their target price on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Oppenheimer lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 4th. Mizuho lifted their price objective on Palantir Technologies from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Citigroup lowered shares of Palantir Technologies from a “buy” rating to a “market perform” rating in a research note on Tuesday, August 4th. Finally, Northland Securities set a $200.00 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 assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Moderate Buy” and an average price target 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.