Townsend Asset Management Corp NC ADV Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Townsend Asset Management Corp NC ADV bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,695 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also modified their holdings of the company. Vision Financial Markets LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at approximately $73,000. Cullen Frost Bankers Inc. increased its stake in Palantir Technologies by 4,248.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,696 shares of the company’s stock worth $128,000 after acquiring an additional 1,657 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Palantir Technologies by 1.4% during the 4th quarter. Arizona State Retirement System now owns 588,806 shares of the company’s stock worth $44,531,000 after acquiring an additional 8,256 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Palantir Technologies by 49.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 16,726 shares of the company’s stock valued at $1,265,000 after acquiring an additional 5,551 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $522,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 6.8 %

Shares of PLTR stock opened at $90.13 on Thursday. The firm has a market cap of $211.39 billion, a price-to-earnings ratio of 474.39, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company’s 50 day moving average is $87.34 and its 200 day moving average is $62.79.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PLTR shares. Loop Capital initiated coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price on the stock. Royal Bank of Canada raised their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Robert W. Baird upped their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. William Blair raised shares of Palantir Technologies from an “underperform” rating to a “market perform” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $74.79.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,439,783 shares of company stock valued at $107,497,043. 12.93% of the stock is currently owned by corporate insiders.

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.