Harel Insurance Investments & Financial Services Ltd. Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Harel Insurance Investments & Financial Services Ltd. increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,684 shares of the company's stock after purchasing an additional 2,554 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Palantir Technologies were worth $3,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Assenagon Asset Management S.A. increased its stake in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Pitcairn Co. bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $281,000. Sagespring Wealth Partners LLC grew its stake in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $52,033,000. Finally, CX Institutional bought a new position in Palantir Technologies during the 1st quarter valued at approximately $62,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 34,357 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total value of $4,327,607.72. Following the transaction, the insider owned 592 shares in the company, valued at $74,568.32. This represents a 98.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,451,497 shares of company stock worth $186,110,685. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $2.15 during midday trading on Friday, hitting $134.27. 41,812,483 shares of the stock traded hands, compared to its average volume of 82,906,073. The firm has a market capitalization of $316.85 billion, a P/E ratio of 1,119.67, a PEG ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22. The firm has a 50-day moving average of $128.04 and a two-hundred day moving average of $101.06.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Mizuho increased their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Citigroup increased their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $89.32.

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.