Modera Wealth Management LLC Makes New $1.01 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Modera Wealth Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,380 shares of the company’s stock, valued at approximately $1,012,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. US Bancorp DE raised its holdings in Palantir Technologies by 8.9% during the third quarter. US Bancorp DE now owns 210,853 shares of the company’s stock worth $7,844,000 after purchasing an additional 17,284 shares in the last quarter. Focus Financial Network Inc. purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at $268,000. Farther Finance Advisors LLC grew its position in shares of Palantir Technologies by 13.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,792 shares of the company’s stock valued at $476,000 after buying an additional 1,514 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Palantir Technologies by 26.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,273 shares of the company’s stock worth $568,000 after acquiring an additional 3,185 shares in the last quarter. Finally, Optas LLC purchased a new stake in Palantir Technologies in the third quarter valued at $312,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $83.42 on Tuesday. The company has a market cap of $190.03 billion, a P/E ratio of 439.08, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The business has a fifty day moving average of $87.14 and a two-hundred day moving average of $62.23.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the sale, the insider now owns 592 shares in the company, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,439,783 shares of company stock worth $107,497,043 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.79.

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.