Harel Insurance Investments & Financial Services Ltd. Trims Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Harel Insurance Investments & Financial Services Ltd. reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 62.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,130 shares of the company’s stock after selling 63,670 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Palantir Technologies were worth $2,884,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $30,000. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the transaction, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,518,855 shares of company stock worth $1,438,682,423. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $78.98 on Friday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The firm has a market capitalization of $179.92 billion, a price-to-earnings ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. The stock has a 50 day moving average of $71.70 and a 200 day moving average of $48.53.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business posted $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies 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.