Strait & Sound Wealth Management LLC Has $1.79 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Strait & Sound Wealth Management LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 291.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,708 shares of the company’s stock after purchasing an additional 17,653 shares during the quarter. Palantir Technologies comprises about 0.8% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. Strait & Sound Wealth Management LLC’s holdings in Palantir Technologies were worth $1,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its holdings in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $253,816,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,931,701 shares of company stock valued at $373,180,433 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 1.4%

Palantir Technologies stock opened at $122.29 on Friday. The business has a 50 day moving average price of $101.88 and a two-hundred day moving average price of $87.09. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The stock has a market cap of $286.81 billion, a price-to-earnings ratio of 643.67, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.95.

About Palantir Technologies

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.