Modus Advisors LLC Makes New $841,000 Investment in Palantir Technologies Inc. (NYSE:PLTR)

Modus Advisors LLC bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 22,618 shares of the company’s stock, valued at approximately $841,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC raised its holdings in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc lifted its stake in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after purchasing an additional 167,030 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.5 %

Palantir Technologies stock traded up $0.64 during mid-day trading on Thursday, reaching $43.77. 30,942,328 shares of the company’s stock were exchanged, compared to its average volume of 57,229,141. The company has a fifty day moving average of $33.35 and a 200-day moving average of $27.16. The company has a market cap of $97.47 billion, a P/E ratio of 360.92 and a beta of 2.72. Palantir Technologies Inc. has a twelve month low of $14.48 and a twelve month high of $43.80.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. Equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Northland Securities initiated coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price on the stock. DA Davidson raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.29.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 562,006 shares in the company, valued at $22,452,139.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,831,855 shares of company stock worth $649,330,295 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies 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.