Oriental Harbor Investment Fund Buys Shares of 442,942 Palantir Technologies Inc. (NASDAQ:PLTR)

Oriental Harbor Investment Fund purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 442,942 shares of the company’s stock, valued at approximately $33,500,000. Palantir Technologies accounts for 3.4% of Oriental Harbor Investment Fund’s holdings, making the stock its 10th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter worth $30,000. Ashburton Jersey Ltd purchased a new position in shares of Palantir Technologies in the second quarter valued at $36,000. Finally, Creekmur Asset Management LLC grew its holdings 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. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on PLTR shares. Robert W. Baird initiated coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. UBS Group began coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.12.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,645,510 shares of company stock valued at $1,444,267,325 in the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR traded down $2.40 during trading hours on Wednesday, hitting $67.59. 50,498,321 shares of the company were exchanged, compared to its average volume of 76,073,617. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The firm’s 50 day moving average is $67.40 and its 200-day moving average is $45.06. The company has a market cap of $153.97 billion, a PE ratio of 337.97, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Palantir Technologies 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.