Strait & Sound Wealth Management LLC Has $880,000 Stake in Palantir Technologies Inc. $PLTR

Key Points

• Strait & Sound Wealth Management LLC has reduced its stake in Palantir Technologies by 56%, now holding 10,422 shares valued at $880,000.
• Institutional investors and hedge funds collectively own 45.65% of Palantir's stock, with several funds increasing their holdings during the first quarter.
• Palantir's stock has recently experienced a downgrade to a "hold" rating by analysts, with a current average price target of $136.61.

Strait & Sound Wealth Management LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 56.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,422 shares of the company's stock after selling 13,286 shares during the period. Strait & Sound Wealth Management LLC's holdings in Palantir Technologies were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allegiance Financial Group Advisory Services LLC boosted its stake in Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the last quarter. Delta Investment Management LLC boosted its stake in Palantir Technologies by 1.9% during the 1st quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after purchasing an additional 90 shares during the last quarter. Sovran Advisors LLC boosted its stake in Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. Lodestone Wealth Management LLC boosted its stake in Palantir Technologies by 1.1% during 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 last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. UBS Group restated a "neutral" rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada boosted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $136.61.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,973,586 shares of company stock valued at $293,225,653 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 1.9%

Palantir Technologies stock opened at $153.11 on Monday. Palantir Technologies Inc. has a 12 month low of $29.50 and a 12 month high of $190.00. The business's 50 day simple moving average is $157.00 and its 200 day simple moving average is $124.86. The company has a market cap of $363.23 billion, a price-to-earnings ratio of 510.38, a PEG ratio of 8.63 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Palantir Technologies's revenue for the quarter 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, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.

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