Straight Path Wealth Management Has $1.71 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Straight Path Wealth Management cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,281 shares of the company's stock after selling 11,490 shares during the period. Palantir Technologies accounts for about 0.7% of Straight Path Wealth Management's holdings, making the stock its 23rd biggest position. Straight Path Wealth Management's holdings in Palantir Technologies were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Resonant Capital Advisors LLC lifted its position in Palantir Technologies by 23.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 3,927 shares of the company's stock valued at $331,000 after purchasing an additional 751 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Palantir Technologies by 43.0% during the 1st quarter. Teacher Retirement System of Texas now owns 745,044 shares of the company's stock worth $62,882,000 after acquiring an additional 224,146 shares in the last quarter. Lodestone Wealth Management LLC boosted its position in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the period. Latitude Advisors LLC boosted its stake in Palantir Technologies by 11.8% in the 1st quarter. Latitude Advisors LLC now owns 6,061 shares of the company's stock worth $512,000 after purchasing an additional 640 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Palantir Technologies by 7.7% in the first quarter. Private Trust Co. NA now owns 17,522 shares of the company's stock worth $1,479,000 after buying an additional 1,247 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLTR shares. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $89.32.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the sale, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,451,497 shares of company stock worth $186,110,685 in the last ninety days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $2.15 during midday trading on Thursday, hitting $134.27. The company had a trading volume of 41,812,483 shares, compared to its average volume of 82,906,073. The stock has a market cap of $316.85 billion, a price-to-earnings ratio of 1,101.00, a PEG ratio of 11.28 and a beta of 2.59. The company's 50 day simple moving average is $127.51 and its 200 day simple moving average is $100.66. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. Analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.