TIAA Trust National Association Reduces Stake in Palantir Technologies Inc.

TIAA Trust National Association has significantly reduced its investment in Palantir Technologies Inc. (NASDAQ:PLTR) by 80.5% during the fourth quarter, as stated in a recent filing with the Securities and Exchange Commission. After this sale, the fund now holds 55,381 shares of Palantir’s stock, having sold 228,751 shares in that period. The value of TIAA Trust National Association's remaining holdings in Palantir is approximately $4,188,000 based on the recent market data.

Several other institutional investors and hedge funds have also made changes to their positions in Palantir Technologies recently. For instance, Prestige Wealth Management Group LLC increased its holdings by an impressive 747.1% in the third quarter, now owning 737 shares worth roughly $27,000 due to the acquisition of an additional 650 shares in the last quarter. Additionally, Roxbury Financial LLC took on a new position in Palantir Technologies in the fourth quarter, with a holding valued at $27,000. First PREMIER Bank also initiated a new position in the fourth quarter, valued at $28,000. Moreover, Wolff Wiese Magana LLC grew its holdings of Palantir by 230.4% in the same period, owning 380 shares worth $29,000 after purchasing 265 additional shares. Finally, HighMark Wealth Management LLC expanded its holdings by 73.5% during the fourth quarter, now possessing 392 shares valued at approximately $30,000. Overall, around 45.65% of Palantir's stock is held by institutional investors and hedge funds.

Performance of Palantir Technologies

On Thursday, shares of Palantir Technologies opened at $92.28. The company has a market capitalization of approximately $216.43 billion, a price-to-earnings (P/E) ratio of 485.71, and a price-to-earnings growth (PEG) ratio of 10.84. The beta of Palantir stands at 2.81, indicating a high level of volatility. The company’s 50-day moving average is $91.28, while the 200-day moving average is $68.54. Over the past year, Palantir has reached a low of $20.33 and a high of $125.41.

Analyst Predictions

Recent assessments by equities analysts suggest varying growth forecasts for Palantir Technologies. For example, Mizuho increased its price target from $44.00 to $80.00 while maintaining an 'underperform' rating. In contrast, Loop Capital lowered its price target from $141.00 to $125.00, branding the stock with a 'buy' rating. DA Davidson also raised its price target from $47.00 to $105.00, giving a 'neutral' rating. Meanwhile, Jefferies Financial Group upgraded its price forecast from $28.00 to $60.00 while suggesting an 'underperform' rating. Baird R W acknowledged Palantir Technologies with a 'hold' rating in a prior report. Collectively, five analysts have rated the stock as a 'sell,' thirteen have given it a 'hold' rating, and four have assigned a 'buy' rating, resulting in an average rating of 'Hold' from MarketBeat, with a consensus price target set at $74.45.

Insider Trading Activity

In related news, insider Ryan D. Taylor sold 483,987 shares of Palantir stock on January 2nd. The shares were sold at an average price of $74.48, resulting in a sale valued at approximately $36,047,351.76. Post-sale, he maintains ownership of 170,273 shares, valued at about $12,681,933.04. This transaction represented a 73.97% reduction in his ownership in the company. Simultaneously, Director Lauren Elaina Friedman Stat sold 800 shares on the same day for an average price of $76.29, totaling approximately $61,032. With this sale, she retains ownership of 62,139 shares valued around $4,740,584.31, reflecting a 1.27% decrease in her holdings. Over the last quarter, insiders have collectively sold 3,379,785 shares for a cumulative value of $281,528,938. Presently, insiders hold about 12.93% of Palantir Technologies' stock.

About Palantir Technologies

Palantir Technologies, Inc. specializes in developing and deploying software platforms that act as central operating systems for businesses. Their operations are divided into two main segments: Commercial and Government. The Commercial segment targets non-government customers, while the Government segment focuses on serving various government entities, both in the United States and abroad.

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