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

Securian Asset Management Inc. reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,533 shares of the company’s stock after selling 1,635 shares during the period. Securian Asset Management Inc.’s holdings in Palantir Technologies were worth $9,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its position in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Palantir Technologies during the first quarter worth $33,000. Atlantic Edge Private Wealth Management LLC grew its holdings in Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock valued at $34,000 after buying an additional 125 shares in the last quarter. Godsey & Gibb Inc. increased its stake in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock worth $35,000 after acquiring an additional 370 shares during the last quarter. Finally, Arlington Trust Co LLC boosted its position in shares of Palantir Technologies by 542.9% during the 1st quarter. Arlington Trust Co LLC now owns 450 shares of the company’s stock valued at $38,000 after acquiring an additional 380 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Mizuho raised their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, DA Davidson raised their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $90.37.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares in the company, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the sale, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,452,297 shares of company stock worth $186,222,373. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 0.3%

Shares of PLTR opened at $142.10 on Monday. The company has a market cap of $335.34 billion, a P/E ratio of 617.83, a PEG ratio of 12.13 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The firm’s 50 day moving average price is $130.81 and its 200 day moving average price is $103.96.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Company 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.