Harvest Fund Management Co. Ltd Purchases 16,954 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Harvest Fund Management Co. Ltd grew its position in Palantir Technologies Inc. (NYSE:PLTR) by 188.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,933 shares of the company’s stock after acquiring an additional 16,954 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Palantir Technologies were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fiduciary Alliance LLC boosted its position in shares of Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares during the period. Valeo Financial Advisors LLC raised its stake in Palantir Technologies by 2.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock worth $539,000 after acquiring an additional 675 shares in the last quarter. Larson Financial Group LLC raised its stake in Palantir Technologies by 15.3% during the fourth quarter. Larson Financial Group LLC now owns 5,142 shares of the company’s stock worth $88,000 after acquiring an additional 681 shares in the last quarter. Founders Financial Securities LLC boosted its holdings in Palantir Technologies by 4.7% in the third quarter. Founders Financial Securities LLC now owns 15,369 shares of the company’s stock valued at $246,000 after acquiring an additional 690 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock traded down $0.05 during midday trading on Wednesday, reaching $21.59. 33,554,595 shares of the company were exchanged, compared to its average volume of 63,540,875. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The company has a market cap of $47.77 billion, a price-to-earnings ratio of 239.80, a price-to-earnings-growth ratio of 5.14 and a beta of 2.78. The stock’s 50-day simple moving average is $23.64 and its 200 day simple moving average is $19.99.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In other news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at approximately $4,355,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 150,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at approximately $4,355,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares in the company, valued at $4,247,445.42. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock valued at $184,343,202 in the last 90 days. 13.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Bank of America raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Thursday, March 28th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Finally, Raymond James lifted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $18.35.

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.