Palantir Technologies Inc. (NASDAQ: PLTR) Chief Executive Officer Alexander C. Karp sold 492,348 shares of Class A common stock on August 20, 2026, for approximately $86.06 million.
The transactions were executed under two separate Rule 10b5-1 trading plans, with 402,348 shares sold to cover tax obligations tied to the vesting of restricted stock units. The remaining 90,000 shares were sold under a plan established in March 2026. Shares were priced between $172.19 and $176.37, with the stock last trading at $175.89, near the transaction range but below its 52-week high of $207.52.
The company reported stronger-than-expected second-quarter 2026 results, with revenue exceeding FactSet consensus by 6.8%, operating income and margin surpassing estimates by 10.5%, and free cash flow up 9.0%. Analysts have raised price targets following the results, with UBS increasing its target to $220 and Truist Securities setting a new target at $223, citing accelerated revenue growth and sovereign AI demand.
