Jessup Wealth Management Inc Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Jessup Wealth Management Inc purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,884 shares of the company's stock, valued at approximately $218,000.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Palantir Technologies by 227.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company's stock valued at $4,546,000 after purchasing an additional 84,856 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Whittier Trust Co. increased its holdings in shares of Palantir Technologies by 1.1% in the third quarter. Whittier Trust Co. now owns 57,526 shares of the company's stock valued at $2,140,000 after purchasing an additional 600 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $62,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Palantir Technologies by 211.9% in the third quarter. Raleigh Capital Management Inc. now owns 1,971 shares of the company's stock valued at $73,000 after purchasing an additional 1,339 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLTR. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Loop Capital initiated coverage on Palantir Technologies in a research note on Thursday. They issued a "buy" rating and a $141.00 price target on the stock. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. DA Davidson lifted their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $73.21.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company's stock, valued at $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. Insiders have sold 6,680,992 shares of company stock worth $473,395,877 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Down 5.5 %

Shares of NASDAQ:PLTR traded down $5.86 on Friday, hitting $100.41. The company had a trading volume of 114,210,605 shares, compared to its average volume of 90,424,781. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The business has a 50 day moving average of $85.36 and a 200 day moving average of $58.84. The company has a market cap of $228.74 billion, a PE ratio of 530.31, a PEG ratio of 11.52 and a beta of 2.81.

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.