Jessup Wealth Management Inc Takes $218,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Jessup Wealth Management Inc acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel reports. The fund acquired 2,884 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $31,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 10.1 %

NASDAQ PLTR opened at $112.06 on Thursday. The stock’s 50-day simple moving average is $84.70 and its two-hundred day simple moving average is $58.51. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market capitalization of $255.27 billion, a price-to-earnings ratio of 589.82, a PEG ratio of 12.25 and a beta of 2.81.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares in the company, valued at approximately $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,301,387 shares of company stock valued at $575,821,045. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PLTR shares. Robert W. Baird raised their price objective 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. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. UBS Group boosted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $69.44.

About Palantir Technologies

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.