First Trust Advisors LP Boosts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

First Trust Advisors LP grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 37.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,365,707 shares of the company's stock after acquiring an additional 913,256 shares during the quarter. First Trust Advisors LP owned about 0.15% of Palantir Technologies worth $254,548,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Heritage Wealth Management Inc. CA increased its holdings in Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after buying an additional 111 shares in the last quarter. Westover Capital Advisors LLC lifted its position in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after purchasing an additional 130 shares during the period. Tritonpoint Wealth LLC boosted its holdings in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC grew its position in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock worth $493,000 after purchasing an additional 139 shares during the period. Finally, Truvestments Capital LLC lifted its holdings in shares of Palantir Technologies by 1.2% during the 4th quarter. Truvestments Capital LLC now owns 12,311 shares of the company's stock valued at $931,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $5.21 during midday trading on Thursday, reaching $106.03. 59,563,429 shares of the stock traded hands, compared to its average volume of 102,059,688. The business has a 50-day moving average of $89.81 and a two-hundred day moving average of $75.91. Palantir Technologies Inc. has a 12-month low of $20.50 and a 12-month high of $125.41. The stock has a market capitalization of $248.67 billion, a PE ratio of 558.42, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Wall Street Analyst Weigh In

Several brokerages recently commented on PLTR. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. DA Davidson reduced their target price on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Mizuho boosted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $74.71.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares of the company's stock, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.