Harbour Trust & Investment Management Co Has $215,000 Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

by · The Markets Daily

Harbour Trust & Investment Management Co reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 24.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,545 shares of the company’s stock after selling 810 shares during the period. Harbour Trust & Investment Management Co’s holdings in Palantir Technologies were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Norges Bank bought a new stake in Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $253,816,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Mizuho upped their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a research note on Wednesday, June 11th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.32.

View Our Latest Research Report on PLTR

Palantir Technologies Stock Performance

PLTR opened at $130.68 on Wednesday. The stock has a fifty day moving average of $126.89 and a 200-day moving average of $100.44. The company has a market capitalization of $308.39 billion, a P/E ratio of 568.17, a P/E/G ratio of 11.64 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 34,357 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the sale, the insider owned 592 shares of the company’s stock, valued at $74,568.32. This represents a 98.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric H. Woersching sold 17,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the sale, the director owned 12,562 shares of the company’s stock, valued at approximately $1,624,140.98. The trade was a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,408,748 shares of company stock valued at $180,327,603 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Profile

(Free Report)

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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