Harmony Asset Management LLC Purchases Shares of 2,581 Palantir Technologies Inc. (NASDAQ:PLTR)

Harmony Asset Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,581 shares of the company's stock, valued at approximately $218,000.

Other hedge funds have also recently bought and sold shares of the company. Richardson Capital Management LLC bought a new position in Palantir Technologies in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its stake in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. Summit Securities Group LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $34,000. Atlantic Edge Private Wealth Management LLC grew its stake in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. grew its stake in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,452,297 shares of company stock worth $186,222,373. 9.23% of the stock is owned by company insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $142.10 on Friday. The stock's fifty day moving average price is $130.81 and its two-hundred day moving average price is $103.66. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22. The firm has a market cap of $335.34 billion, a PE ratio of 617.83, a price-to-earnings-growth ratio of 12.16 and a beta of 2.59.

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, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the company earned $0.08 EPS. The company's revenue was up 39.4% on a year-over-year basis. Sell-side analysts expect 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 subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. 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 research report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.

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