MML Investors Services LLC Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

MML Investors Services LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 642,361 shares of the company’s stock after selling 79,632 shares during the period. MML Investors Services LLC’s holdings in Palantir Technologies were worth $48,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $1,360,191,000. FMR LLC lifted its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Invesco Ltd. boosted its stake in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after buying an additional 655,815 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Mizuho raised their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Jefferies Financial Group increased their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Citigroup boosted their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.71.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 in the last ninety days. 12.93% of the stock is owned by insiders.

Palantir Technologies Trading Up 1.2 %

Shares of NASDAQ:PLTR opened at $93.78 on Monday. The stock has a market capitalization of $219.95 billion, a P/E ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The stock’s 50-day moving average price is $91.18 and its 200-day moving average price is $75.26. Palantir Technologies Inc. has a 12-month low of $20.36 and a 12-month high of $125.41.

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.