Harvest Fund Management Co. Ltd Acquires 57,848 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Harvest Fund Management Co. Ltd raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 160.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 94,012 shares of the company’s stock after acquiring an additional 57,848 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Palantir Technologies were worth $3,497,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PLTR. ProShare Advisors LLC bought a new position in Palantir Technologies during the first quarter worth about $262,000. Advisors Asset Management Inc. grew its holdings in Palantir Technologies by 87.8% during the first quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company’s stock valued at $316,000 after purchasing an additional 6,426 shares during the period. Lazard Asset Management LLC increased its stake in Palantir Technologies by 133.0% in the first quarter. Lazard Asset Management LLC now owns 472,497 shares of the company’s stock valued at $10,871,000 after purchasing an additional 269,697 shares in the last quarter. BOKF NA raised its holdings in Palantir Technologies by 394.4% in the first quarter. BOKF NA now owns 30,039 shares of the company’s stock worth $687,000 after purchasing an additional 23,963 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Palantir Technologies by 31.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,877,457 shares of the company’s stock worth $135,241,000 after purchasing an additional 1,413,417 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares in the company, valued at $5,535,378. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,167,451 shares of company stock valued at $1,603,067,889. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLTR. Wedbush upped their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Citigroup raised their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $64.35 on Monday. The stock has a market capitalization of $146.59 billion, a PE ratio of 321.77 and a beta of 2.70. The company’s 50-day moving average price is $45.94 and its two-hundred day moving average price is $33.48. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.