Harvest Fund Management Co. Ltd Grows Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Harvest Fund Management Co. Ltd raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 160.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 245,075 shares of the company’s stock after buying an additional 151,063 shares during the period. Palantir Technologies comprises about 0.9% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 17th largest holding. Harvest Fund Management Co. Ltd’s holdings in Palantir Technologies were worth $18,501,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PLTR. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its stake in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $83.89 on Wednesday. The business’s 50 day moving average price is $88.34 and its 200 day moving average price is $66.23. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a market capitalization of $196.75 billion, a PE ratio of 441.55, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $50,497.60. This represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,069,785 shares of company stock worth $254,537,238 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. DA Davidson boosted their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $74.45.

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.