Securian Asset Management Inc. Reduces Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Securian Asset Management Inc. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,168 shares of the company’s stock after selling 1,210 shares during the quarter. Securian Asset Management Inc.’s holdings in Palantir Technologies were worth $8,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $78.05 on Wednesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The company has a market capitalization of $183.06 billion, a PE ratio of 410.81, a P/E/G ratio of 10.84 and a beta of 2.81. The business has a 50-day moving average of $87.46 and a 200-day moving average of $64.35.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 985,838 shares of company stock valued at $75,333,389. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PLTR shares. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. UBS Group lifted their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.25.

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.