Harbour Investments Inc. Has $8.31 Million Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Harbour Investments Inc. increased its stake in Palantir Technologies by 14.3%, owning 60,977 shares valued at approximately $8.31 million after purchasing an additional 7,646 shares in the second quarter.
• Several institutional investors, including UBS Asset Management and Truist Financial, have also recently increased their positions in Palantir, which sees institutional ownership at 45.65%.
• Palantir reported better-than-expected earnings with a net margin of 22.18% and forecasted an EPS of 0.31 for the current year, demonstrating significant revenue growth of 48% compared to the same quarter last year.

Harbour Investments Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 60,977 shares of the company's stock after buying an additional 7,646 shares during the period. Harbour Investments Inc.'s holdings in Palantir Technologies were worth $8,312,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Truist Financial Corp grew its position in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company's stock worth $73,204,000 after purchasing an additional 21,809 shares in the last quarter. Presilium Private Wealth LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $204,000. New Century Financial Group LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after purchasing an additional 1,135,841 shares in the last quarter. Finally, Synergy Asset Management LLC grew its position in shares of Palantir Technologies by 37.1% during the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after purchasing an additional 2,606 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLTR. Bank of America increased their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Royal Bank Of Canada upped their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Finally, Mizuho set a $165.00 price target on shares of Palantir Technologies in a report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $141.28.

Insider Activity

In other news, insider David A. Glazer sold 81,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. The trade was a 99.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,557,750 shares of company stock valued at $239,713,896. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Up 1.4%

Shares of Palantir Technologies stock opened at $179.74 on Wednesday. The company has a market cap of $426.40 billion, a PE ratio of 599.15, a price-to-earnings-growth ratio of 9.61 and a beta of 2.60. The company has a 50 day moving average of $171.78 and a 200-day moving average of $141.31. Palantir Technologies Inc. has a 1-year low of $40.36 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.

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