Harvest Fund Management Co. Ltd Buys 31,947 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Harvest Fund Management Co. Ltd increased its Palantir position by 14% in the fourth quarter, buying 31,947 more shares and bringing its total stake to 259,572 shares worth about $46.1 million.
• Several other institutional investors also added to or initiated positions in Palantir, and the stock remains widely held by institutions, which own 45.65% of the company.
• Palantir is drawing mixed sentiment: it continues to announce new AI and enterprise partnerships, but investors are also watching valuation concerns, recent insider sales, and renewed bearish commentary.

Harvest Fund Management Co. Ltd raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,572 shares of the company's stock after purchasing an additional 31,947 shares during the period. Palantir Technologies makes up approximately 1.7% of Harvest Fund Management Co. Ltd's holdings, making the stock its 12th biggest position. Harvest Fund Management Co. Ltd's holdings in Palantir Technologies were worth $46,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Bare Financial Services Inc lifted its holdings in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after acquiring an additional 55 shares during the period. Basepoint Wealth LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth about $29,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after acquiring an additional 125 shares during the period. United Financial Planning Group LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth about $32,000. Finally, Clayton Financial Group LLC lifted its holdings in shares of Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 150 shares during the period. 45.65% of the stock is owned by institutional investors.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir announced an expanded partnership with Google Cloud that connects Foundry and AIP with Gemini and BigQuery, and makes Palantir available on Google Cloud Marketplace, which could broaden adoption and distribution. Palantir Announces Availability on Google Cloud Marketplace, Including Two-Way Integrations between BigQuery and Foundry and Deep Connectivity between Gemini and AIP
• Positive Sentiment: The company also unveiled several new enterprise deals at AIPCon 10, including a multi-year partnership with Kirkland & Ellis, a strategic deal with McCarthy Building Companies, and an expansion agreement with GNP Seguros, reinforcing commercial momentum beyond government contracts. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
• Positive Sentiment: Palantir said customer demos at AIPCon 10 are highlighting real-world deployments of Foundry, AIP, Ontology, and Apollo, which supports the bull case that its AI platform is seeing meaningful usage in production. Palantir Customers Reveal How AI Amplifies Their Tradecraft at AIPCon 10
• Neutral Sentiment: Analysts and commentators are also debating whether recent volatility is just a pause after a strong run or a warning sign that Palantir’s rich valuation leaves little room for error. Is It Time To Reconsider Palantir Technologies (PLTR) After Recent Volatility And Rich Earnings Multiple
• Negative Sentiment: Michael Burry renewed his bearish stance on Palantir, adding to valuation skepticism and likely contributing to some near-term pressure on the stock. Michael Burry Takes Aim at Palantir Stock Again, But He’s Missing the Bigger Picture
• Negative Sentiment: Separate reports also noted criticism of Palantir’s U.K. NHS contract, which keeps regulatory and political risk in focus for investors. Palantir’s £330M NHS deal faces criticism from UK parliamentarians

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares of the company's stock, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the transaction, the director directly owned 55,022 shares in the company, valued at $8,803,520. The trade was a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 925,789 shares of company stock worth $126,007,032 over the last 90 days. Insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Cantor Fitzgerald reiterated a "neutral" rating and set a $138.00 target price on shares of Palantir Technologies in a research report on Friday, May 22nd. Royal Bank Of Canada reiterated an "underperform" rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Zacks Research upgraded shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $192.76.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $141.70 on Friday. Palantir Technologies Inc. has a one year low of $118.93 and a one year high of $207.52. The company has a 50 day moving average of $141.19 and a 200-day moving average of $154.99. The stock has a market cap of $339.70 billion, a price-to-earnings ratio of 159.22, a P/E/G ratio of 2.26 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the previous year, the company earned $0.13 EPS. Palantir Technologies's revenue was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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