Harvest Portfolios Group Inc. Makes New $25.26 Million Investment in Palantir Technologies Inc. $PLTR

Key Points

• Harvest Portfolios Group Inc. has made a new investment of approximately $25.26 million in Palantir Technologies, purchasing 299,327 shares during the first quarter.
• Insider selling has occurred, with notable transactions including Ryan D. Taylor selling 33,335 shares and Stephen Andrew Cohen selling 191,720 shares, representing significant reductions in their ownership stakes.
• Palantir reported a 48% increase in quarterly revenue year-over-year, with a total revenue of $1 billion for the recent quarter, surpassing analyst expectations.

Harvest Portfolios Group Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 299,327 shares of the company's stock, valued at approximately $25,263,000.

A number of other large investors have also recently made changes to their positions in the stock. Orion Capital Management LLC grew its holdings in shares of Palantir Technologies by 1.3% during the first quarter. Orion Capital Management LLC now owns 21,673 shares of the company's stock valued at $1,829,000 after buying an additional 273 shares during the last quarter. Evergreen Wealth Solutions LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at $291,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Palantir Technologies by 194.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,085 shares of the company's stock valued at $514,000 after buying an additional 4,020 shares during the last quarter. Comerica Bank grew its holdings in shares of Palantir Technologies by 11.6% during the first quarter. Comerica Bank now owns 445,270 shares of the company's stock valued at $37,581,000 after buying an additional 46,125 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at $3,220,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the transaction, the insider owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,906,783 shares of company stock worth $282,471,442. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 1.0%

PLTR opened at $157.17 on Tuesday. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The company has a 50-day moving average price of $153.92 and a 200 day moving average price of $122.31. The company has a market cap of $372.86 billion, a PE ratio of 523.92, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60.

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

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $136.61.

About Palantir Technologies

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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