Harbour Capital Advisors LLC Sells 455 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Harbour Capital Advisors LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,060 shares of the company’s stock after selling 455 shares during the period. Harbour Capital Advisors LLC’s holdings in Palantir Technologies were worth $3,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 8.6% during the fourth 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 grew its position in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $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 Palantir Technologies in the 4th quarter valued at $253,816,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PLTR shares. Morgan Stanley raised their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald increased their price target 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. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.32.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $139.92 on Tuesday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86. The firm’s 50 day moving average price is $121.59 and its 200-day moving average price is $97.91. The firm has a market cap of $330.20 billion, a P/E ratio of 608.35, a P/E/G ratio of 11.72 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the firm posted $0.08 EPS. The company’s revenue was up 39.4% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

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.