Modus Advisors LLC Purchases 3,023 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Modus Advisors LLC increased its stake in Palantir Technologies by 14.4%, purchasing 3,023 shares to bring its total holdings to 23,979 shares valued at approximately $3.27 million.
• Palantir's latest quarterly earnings report exceeded analyst expectations, posting a revenue growth of 48% year-over-year and a quarterly profit of $0.16 EPS, surpassing estimates of $0.14.
• Several institutional investors, including UBS and McAdam LLC, have significantly increased their positions in Palantir during the past quarter, reflecting a growing interest as institutional ownership now stands at 45.65%.

Modus Advisors LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,979 shares of the company's stock after purchasing an additional 3,023 shares during the period. Modus Advisors LLC's holdings in Palantir Technologies were worth $3,269,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after purchasing an additional 1,135,841 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. bought a new position in shares of Palantir Technologies in the 1st quarter valued at about $45,000. McAdam LLC grew its holdings in shares of Palantir Technologies by 78.4% in the 1st quarter. McAdam LLC now owns 12,159 shares of the company's stock valued at $1,026,000 after acquiring an additional 5,344 shares in the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Palantir Technologies in the 1st quarter valued at about $1,878,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $171.43 on Friday. Palantir Technologies Inc. has a 52 week low of $34.89 and a 52 week high of $190.00. The stock has a market capitalization of $406.69 billion, a P/E ratio of 571.45, a PEG ratio of 9.26 and a beta of 2.59. The stock has a 50-day simple moving average of $160.07 and a 200 day simple moving average of $127.13.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLTR shares. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Cantor Fitzgerald raised their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. UBS Group restated a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Bank of America raised their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $136.61.

Insider Activity

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares in the company, valued at $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 160,164 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the sale, the insider owned 592 shares of the company's stock, valued at $92,204. This trade represents a 99.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,604,634 shares of company stock valued at $245,441,454. Company insiders own 9.23% of the company's stock.

Palantir Technologies Company 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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