Ironwood Investment Counsel LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Ironwood Investment Counsel LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,020 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors also recently modified their holdings of the company. ETF Store Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $303,000. First National Trust Co boosted its stake in shares of Palantir Technologies by 19.9% in the 4th quarter. First National Trust Co now owns 19,408 shares of the company’s stock valued at $1,468,000 after purchasing an additional 3,217 shares during the last quarter. Left Brain Wealth Management LLC boosted its stake in shares of Palantir Technologies by 15.7% in the 4th quarter. Left Brain Wealth Management LLC now owns 138,776 shares of the company’s stock valued at $10,496,000 after purchasing an additional 18,814 shares during the last quarter. Northwest Wealth Management LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $219,000. Finally, Wellington Shields Capital Management LLC boosted its stake in shares of Palantir Technologies by 125.0% in the 4th quarter. Wellington Shields Capital Management LLC now owns 5,850 shares of the company’s stock valued at $442,000 after purchasing an additional 3,250 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $50,497.60. This represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,069,785 shares of company stock worth $254,537,238. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Performance

PLTR opened at $86.24 on Friday. The firm has a market cap of $202.26 billion, a P/E ratio of 453.92, a PEG ratio of 10.84 and a beta of 2.81. The firm has a 50-day moving average of $87.83 and a 200 day moving average of $64.98. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

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.