Harbor Investment Advisory LLC Buys 3,390 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Harbor Investment Advisory LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 106.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,584 shares of the company’s stock after acquiring an additional 3,390 shares during the period. Harbor Investment Advisory LLC’s holdings in Palantir Technologies were worth $498,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares in the last quarter. FMR LLC boosted its stake in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLTR shares. The Goldman Sachs Group increased 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. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $43.78.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the transaction, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.8 %

Shares of PLTR stock opened at $73.07 on Wednesday. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a 50 day moving average of $70.72 and a 200 day moving average of $47.79. The stock has a market cap of $166.45 billion, a P/E ratio of 365.37, a P/E/G ratio of 6.66 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Palantir Technologies 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.