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

Harvest Fund Management Co. Ltd lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 160.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 245,075 shares of the company’s stock after acquiring an additional 151,063 shares during the quarter. Palantir Technologies accounts for about 0.9% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 17th largest position. Harvest Fund Management Co. Ltd’s holdings in Palantir Technologies were worth $18,501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PLTR. State Street Corp increased its position in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased 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 valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares during the last quarter. Finally, Amundi increased its holdings in Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after buying an additional 2,623,524 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $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 sold a total of 3,069,785 shares of company stock worth $254,537,238 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 4.0 %

Shares of NASDAQ:PLTR opened at $83.89 on Wednesday. The company has a market cap of $196.75 billion, a P/E ratio of 441.55, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a 50-day moving average price of $88.34 and a 200 day moving average price of $66.23.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLTR shares. Loop Capital dropped their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.