Jacobi Capital Management LLC Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Jacobi Capital Management LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,851 shares of the company’s stock after buying an additional 1,217 shares during the period. Jacobi Capital Management LLC’s holdings in Palantir Technologies were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tritonpoint Wealth LLC boosted its stake in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after buying an additional 139 shares during the last quarter. Kennebec Savings Bank boosted its stake in shares of Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares during the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Finally, RMR Wealth Builders boosted its stake in shares of Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Northland Securities upped their price objective 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. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Wedbush upped their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.21.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $84.86 on Monday. The stock has a market cap of $193.31 billion, a P/E ratio of 446.64, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm’s fifty day moving average price is $87.09 and its 200-day moving average price is $61.86.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,689,783 shares of company stock valued at $475,417,043. 12.93% of the stock is currently owned by company insiders.

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.