Palantir CEO Alexander Karp sold over $316 million in shares in two days, marking 10% of his total stake.
Sectors & Industries
September 26, 2024
In a major series of transactions, Alexander Karp, CEO of Palantir Technologies, sold a massive 4.5 million shares on September 16th, and another 4.25 million the very next day. These two sales alone brought in over $316 million. And here’s the kicker: these September sales are 20 times larger than many of his earlier sales this year.
Just to give you perspective, back in May, Karp sold around 522,000 shares for $11.2 million—peanuts compared to what he’s offloading now. While insider selling isn’t unusual, the size and timing of this sell-off are raising eyebrows, especially as Palantir’s stock has surged over 166% this year, currently hovering around $37. Investors might wonder—could Karp be taking some chips off the table ahead of a potential market shift?
In addition to this recent massive sale, Karp’s been offloading shares throughout the year, with major sales in February and August. But the jump to millions of shares in September suggests he’s preparing for something bigger.
And get this—these sales account for 10% of Karp’s entire stake in the company!
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