Peter Thiel, everyone’s favorite big tech investor and antichrist comforting theologian, is ready to upload an insane amount of Palantir stock. According to a Form 144 SEC filing, Thiel plans to sell about 2 million shares of PLTR within three months for $280 million, according to a 10b5-1 business plan he approved last November. Paying off one of Palantir’s co-founders might read as a bad sign for CEO Alex Karp’s company, but with the U.S. now in open conflict with Iran and Palantir’s fingerprints all over the Pentagon’s semi-data infrastructure, the fight may be the catalyst that keeps the bills from completely losing their religion.
If you’ve been watching Palantir’s insider activity, Thiel’s stock moves aren’t exactly breaking news. His last sale before that was in October 2024, when he moved more than $400 million in shares through companies with names like Rivendell 7 LLC and STS Holdings II LLC, of course because. Total revenue over multiple filings exceeded $590 million. He was a little early, with PLTR hitting an all-time high of $207 shortly after, but no one was crying for Peter Thiel.
What’s new this time is the company he keeps. On February 20th alone, co-founder Stephen Cohen sold about $43.7 million in shares, co-founder Shyam Sankar sold more than $22 million in shares, and CEO Alex Karp himself sold 493,025 shares worth $66 million. CFO David Glazer and Chief Revenue Officer Ryan Taylor also attended the parade. That’s a lot of people taking money off the table on the same day, which is either completely innocent or the most coordinated scam in recent memory.
Carp’s name for “Plantarians” is a bit of a shocker for his retail faith base. As recently as the Q2 2025 earnings call, Corp told minority shareholders that he was “very happy to have you along for the ride” and credited the stock’s run to their support. Whether this feeling has an expiration date is now a live question.
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The sale comes against a backdrop that would otherwise look pretty good for Palantir. Q4 revenue came in at $1.4 billion, up nearly 70% year-over-year and ahead of Street estimates. Full-year 2025 revenue reached $4.48 billion, up 56% from 2024. US commercial revenue increased 137% in Q4 year-over-year. Government revenue reached $570 million, up 66%. The number of customers increased by 34%. By almost any measure, businesses do, which makes it difficult to get away with the usual “diversity” explanation for insider selling.
(Tags translation)Peter Thiel
