Townsend Asset Management Corp NC ADV Invests $204,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Townsend Asset Management Corp NC ADV purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,695 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Mather Group LLC. lifted its holdings in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC bought a new position in Palantir Technologies in the 4th quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $3,233,000. Finally, Oppenheimer & Co. Inc. increased its stake in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent analyst reports. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group raised their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Loop Capital initiated coverage on Palantir Technologies in a report on Thursday, February 20th. They issued a “buy” rating and a $141.00 price objective for the company. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Price Performance

PLTR opened at $90.13 on Thursday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The stock has a 50-day moving average price of $87.34 and a 200-day moving average price of $62.79. The firm has a market cap of $211.39 billion, a PE ratio of 474.39, a P/E/G ratio of 10.84 and a beta of 2.81.

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.