Nikko Asset Management Americas Inc. Trims Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Nikko Asset Management Americas Inc. lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,811,647 shares of the company’s stock after selling 3,367,475 shares during the quarter. Palantir Technologies makes up approximately 5.6% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 4th biggest holding. Nikko Asset Management Americas Inc.’s holdings in Palantir Technologies were worth $515,301,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. raised its position in shares of Palantir Technologies by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 682,748 shares of the company’s stock valued at $25,398,000 after acquiring an additional 22,672 shares during the period. Huntington National Bank raised its position in shares of Palantir Technologies by 8.0% in the 3rd quarter. Huntington National Bank now owns 8,770 shares of the company’s stock valued at $326,000 after acquiring an additional 647 shares during the period. Curi RMB Capital LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $245,000. ING Groep NV acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $3,196,000. Finally, OneDigital Investment Advisors LLC raised its position in shares of Palantir Technologies by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 34,146 shares of the company’s stock valued at $1,270,000 after acquiring an additional 998 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $86.24 on Monday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a market cap of $202.26 billion, a price-to-earnings ratio of 453.92, a PEG ratio of 10.84 and a beta of 2.81. The firm’s 50-day moving average is $87.83 and its 200-day moving average is $65.46.

Wall Street Analyst Weigh In

A number of analysts recently weighed in 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 report on Tuesday, February 4th. Bank of America raised their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Loop Capital lowered their price objective on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Five investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.45.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,069,785 shares of company stock valued at $254,537,238 over the last 90 days. 12.93% of the stock is currently owned by 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.