Strait & Sound Wealth Management LLC Purchases 17,653 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Strait & Sound Wealth Management LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 291.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,708 shares of the company's stock after acquiring an additional 17,653 shares during the period. Palantir Technologies makes up 0.8% of Strait & Sound Wealth Management LLC's portfolio, making the stock its 21st largest holding. Strait & Sound Wealth Management LLC's holdings in Palantir Technologies were worth $1,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. raised its holdings in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after buying an additional 448 shares during the last quarter. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $3,233,000. Grange Capital LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $5,829,000. American Institute for Advanced Investment Management LLP bought a new stake in Palantir Technologies in the 4th quarter valued at $246,000. Finally, Sage Advisors LLC bought a new position in Palantir Technologies during the 4th quarter worth $369,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Morgan Stanley lifted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $83.95.

Insider Activity

In other news, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $810,271,540.26. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $0.66 during midday trading on Tuesday, reaching $122.65. 38,906,858 shares of the company's stock were exchanged, compared to its average volume of 77,739,761. The stock has a market capitalization of $287.66 billion, a PE ratio of 652.93, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.64 and a 52-week high of $133.49. The business's fifty day moving average price is $103.41 and its two-hundred day moving average price is $88.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 earnings per share. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.