First Trust Direct Indexing L.P. Buys 4,956 Shares of Palantir Technologies Inc. (NYSE:PLTR)

First Trust Direct Indexing L.P. grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 17.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,977 shares of the company’s stock after purchasing an additional 4,956 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Palantir Technologies were worth $1,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Creekmur Asset Management LLC raised its position in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $30,000. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,204,508 shares of company stock worth $802,654,666 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $41.56 on Friday. The stock has a market cap of $93.07 billion, a price-to-earnings ratio of 244.47 and a beta of 2.72. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $45.14. The firm’s 50-day simple moving average is $37.77 and its 200 day simple moving average is $29.36.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on PLTR shares. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Monness Crespi & Hardt lowered their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Citigroup lifted their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.86.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.