Securian Asset Management Inc. Cuts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Securian Asset Management Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,168 shares of the company’s stock after selling 1,210 shares during the period. Securian Asset Management Inc.’s holdings in Palantir Technologies were worth $8,332,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLTR. State Street Corp increased its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Finally, Amundi increased its stake in Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after purchasing an additional 2,623,524 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,838 shares of company stock valued at $75,333,389. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLTR shares. UBS Group increased their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America increased their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.25.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $78.05 on Wednesday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The business has a fifty day moving average of $87.46 and a two-hundred day moving average of $64.35. The company has a market cap of $183.06 billion, a P/E ratio of 410.81, a price-to-earnings-growth ratio of 10.84 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.