Northern Trust Corp Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Northern Trust Corp increased its holdings in Palantir Technologies by 0.3%, owning approximately 19.5 million shares valued at $1.65 billion as of the end of Q1.
• Palantir reported a 48% revenue growth year-over-year with $1 billion in revenue and an EPS of $0.16, surpassing analyst estimates.
• Institutional investors hold 45.65% of Palantir's stock, while insider transactions show significant sales of shares in recent months, indicating a shift in executive ownership.

Northern Trust Corp raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,553,438 shares of the company's stock after buying an additional 64,973 shares during the quarter. Northern Trust Corp owned about 0.83% of Palantir Technologies worth $1,650,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Palantir Technologies in the first quarter worth about $520,232,000. Goldman Sachs Group Inc. raised its holdings in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Capital World Investors bought a new position in Palantir Technologies in the 4th quarter valued at approximately $253,816,000. Invesco Ltd. boosted its stake in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Finally, Clear Street Derivatives LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth $216,953,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares in the company, valued at $8,779,654.07. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider owned 363,755 shares of the company's stock, valued at $63,657,125. The trade was a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 in the last 90 days. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Trading Down 2.1%

NASDAQ:PLTR opened at $177.17 on Monday. The firm has a fifty day simple moving average of $151.03 and a 200-day simple moving average of $119.75. The company has a market capitalization of $420.31 billion, a P/E ratio of 590.59, a PEG ratio of 9.99 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period last year, the company earned $0.09 earnings per share. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PLTR shares. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Loop Capital increased their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $136.61.

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.

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