Harbor Investment Advisory LLC Has $30,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

September 29, 2022 tawas

Harbor Investment Advisory LLC cut its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 80.6% during the 2nd quarter, Holdings Channel reports. The fund owned 3,300 shares of the company’s stock after selling 13,750 shares during the period. Harbor Investment Advisory LLC’s holdings in Palantir Technologies were worth $30,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC bought a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. Endurance Wealth Management Inc. bought a new position in Palantir Technologies during the first quarter worth about $27,000. Herold Advisors Inc. purchased a new position in shares of Palantir Technologies in the first quarter worth about $35,000. TCI Wealth Advisors Inc. raised its position in shares of Palantir Technologies by 58.5% in the first quarter. TCI Wealth Advisors Inc. now owns 2,820 shares of the company’s stock valued at $39,000 after purchasing an additional 1,041 shares during the period. Finally, UMB Bank NA MO lifted its stake in shares of Palantir Technologies by 58.6% during the 1st quarter. UMB Bank NA MO now owns 3,240 shares of the company’s stock valued at $44,000 after buying an additional 1,197 shares in the last quarter. Institutional investors and hedge funds own 30.80% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $7.94 on Thursday. The stock has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $9.75. The firm has a market capitalization of $16.39 billion, a PE ratio of -29.41 and a beta of 3.89. Palantir Technologies Inc. has a 52-week low of $6.44 and a 52-week high of $27.11.

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Palantir Technologies (NYSE:PLTR – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $473.00 million during the quarter, compared to the consensus estimate of $471.72 million. Palantir Technologies had a negative net margin of 30.90% and a positive return on equity of 0.06%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexander D. Moore sold 37,076 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $9.20, for a total value of $341,099.20. Following the transaction, the director now owns 1,923,852 shares of the company’s stock, valued at approximately $17,699,438.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Alexander D. Moore sold 37,076 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $9.20, for a total value of $341,099.20. Following the transaction, the director now owns 1,923,852 shares of the company’s stock, valued at $17,699,438.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 125,000 shares of Palantir Technologies stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $9.95, for a total value of $1,243,750.00. Following the sale, the insider now directly owns 1,918,506 shares of the company’s stock, valued at $19,089,134.70. The disclosure for this sale can be found here. In the last three months, insiders sold 331,187 shares of company stock valued at $3,267,761. Insiders own 13.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLTR shares. Raymond James started coverage on shares of Palantir Technologies in a report on Thursday, July 21st. They set a “strong-buy” rating and a $20.00 target price on the stock. Monness Crespi & Hardt lowered Palantir Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. The Goldman Sachs Group began coverage on Palantir Technologies in a research note on Thursday, June 23rd. They set a “neutral” rating and a $10.00 price target for the company. Bank of America initiated coverage on Palantir Technologies in a research report on Tuesday, June 21st. They set a “buy” rating and a $13.00 price target on the stock. Finally, Credit Suisse Group decreased their target price on shares of Palantir Technologies to $11.00 in a research note on Monday, August 15th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.83.

Palantir Technologies Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real- world responses to threats that have been identified within the platform.

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Harbor Investment Advisory LLC Has $30,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Palantir Technologies Stock Performance

Insider Buying and Selling

Analyst Ratings Changes

Palantir Technologies Profile

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