442,942 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Oriental Harbor Investment Fund

Oriental Harbor Investment Fund acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 442,942 shares of the company’s stock, valued at approximately $33,500,000. Palantir Technologies makes up approximately 3.4% of Oriental Harbor Investment Fund’s investment portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies during the second quarter valued at approximately $30,000. Ashburton Jersey Ltd acquired a new stake in Palantir Technologies in the 2nd quarter valued at $36,000. Finally, Creekmur Asset Management LLC increased its stake in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,645,510 shares of company stock valued at $1,444,267,325. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PLTR shares. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Mizuho increased their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $42.12.

Palantir Technologies Stock Down 3.4 %

Shares of PLTR traded down $2.40 during mid-day trading on Wednesday, hitting $67.59. 50,498,321 shares of the company’s stock traded hands, compared to its average volume of 76,073,617. The firm has a market capitalization of $153.97 billion, a P/E ratio of 337.97, a PEG ratio of 10.18 and a beta of 2.82. The business’s 50-day moving average price is $67.40 and its 200-day moving average price is $45.06. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

About Palantir Technologies

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.