The Manufacturers Life Insurance Company Has $94.39 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

The Manufacturers Life Insurance Company grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,248,083 shares of the company’s stock after acquiring an additional 10,057 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Palantir Technologies were worth $94,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC bought a new stake in Palantir Technologies during the fourth quarter worth $3,233,000. Kieckhefer Group LLC bought a new stake in Palantir Technologies during the fourth quarter worth $11,769,000. Finally, Grange Capital LLC bought a new position in shares of Palantir Technologies in the 4th quarter valued at $5,829,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 1.2 %

Shares of NASDAQ PLTR opened at $116.08 on Wednesday. The company has a market capitalization of $272.25 billion, a PE ratio of 610.98, a P/E/G ratio of 10.84 and a beta of 2.74. The firm has a fifty day simple moving average of $89.59 and a 200 day simple moving average of $78.11. Palantir Technologies Inc. has a twelve month low of $20.50 and a twelve month high of $125.41.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $40.00 price objective on shares of Palantir Technologies in a research note on Tuesday. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital restated a “buy” rating on shares of Palantir Technologies in a research report on Friday, April 4th. Finally, Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.71.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 18,537 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the transaction, the insider now directly owns 493,469 shares in the company, valued at $50,491,748.08. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is owned by corporate insiders.

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.