Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 678.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,437 shares of the company’s stock after purchasing an additional 2,124 shares during the period. Sound Income Strategies LLC’s holdings in Palantir Technologies were worth $56,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pursue Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $1,741,000. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. Trexquant Investment LP acquired a new position in shares of Palantir Technologies in the third quarter worth about $4,446,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after acquiring an additional 116,220 shares during the period. Finally, Udine Wealth Management Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $1,612,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. DA Davidson upped their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Argus initiated coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.25.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 10,907 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now owns 651,099 shares of the company’s stock, valued at approximately $13,953,051.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Heather A. Planishek sold 10,907 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now owns 651,099 shares of the company’s stock, valued at approximately $13,953,051.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,377,153 shares of company stock valued at $240,054,945. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $24.10 on Thursday. The firm has a 50 day simple moving average of $22.45 and a 200-day simple moving average of $21.41. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $27.50. The stock has a market cap of $53.66 billion, a price-to-earnings ratio of 200.81, a price-to-earnings-growth ratio of 5.67 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Equities analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.