TLDR
- CEO Alexander Karp sold ~$54.1M in Class A stock on May 20, 2026
- CTO Shyam Sankar sold ~$22.5M; President Stephen Cohen sold ~$43.5M the same day
- All three sales were automatic transactions to cover tax obligations tied to RSU vesting
- All sales were executed under pre-arranged Rule 10b5-1 trading plans
- PLTR trades at $136.88, down 23% year-to-date; analysts flag the stock as overvalued
Palantir’s top three executives collectively offloaded over $120 million in stock on May 20, 2026 — all on the same day.
Palantir Technologies Inc., PLTR
CEO Alexander Karp sold 397,744 Class A shares for roughly $54.1 million. Prices ranged from $132.48 to $136.835 per share. CTO Shyam Sankar sold 165,514 shares for $22.5 million in the same price range. President Stephen Cohen sold 319,934 shares for approximately $43.5 million at weighted average prices between $132.95 and $136.61.
The sales were not discretionary. All three transactions were automatic — executed to cover tax withholding obligations triggered by the vesting of previously granted restricted stock units (RSUs).
Each sale was carried out under a pre-established Rule 10b5-1 trading plan, which allows executives to set up scheduled trades in advance to avoid accusations of insider trading.
PLTR stock currently trades at $136.88 — down 23% year-to-date, though up 11% over the past year.
How the RSU Conversions Worked
When the RSUs vested, each executive received Class B Common Stock, which was then converted into Class A Common Stock on a one-for-one basis. Those Class A shares were immediately sold.
Karp received rights to 975,000 Class B shares upon vesting, with 397,744 converted and sold. Sankar received 375,000 shares, with 165,514 sold. Cohen’s RSU grant covered 675,000 shares, with 319,934 going to the market.
After the transactions, Karp still directly holds 6,432,258 Class A shares and 52,010,249 Class B shares, along with 1,950,000 outstanding RSUs. Sankar holds 642,786 Class A shares and 3,698,598 Class B shares. Cohen’s direct Class A holding dropped to just 592 shares, though he retains 13,887,004 Class B shares.
What Analysts Are Saying
Palantir posted strong Q1 2026 results. EPS came in at $0.33, beating the $0.28 estimate. Revenue hit $1.633 billion, above the $1.54 billion forecast. The U.S. government segment was a key driver.
Freedom Broker raised its price target to $230 from $170 following the results, keeping a Buy rating. Rosenblatt reiterated a Buy with a $225 target after meeting with Palantir executives.
Cantor Fitzgerald held its Neutral rating with a $138 price target but noted growing optimism around Palantir’s AI positioning.
InvestingPro analysis flags PLTR as overvalued relative to its Fair Value. The stock carries a P/E ratio of 154 and a market cap of $327.93 billion.
The sales took place two days after the Q1 earnings beat — though the timing was dictated by the RSU vesting schedule, not the earnings release.
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