Campaigners from Minneapolis have urged the Swiss National Bank (SNB) to sell its $1.1 billion stake in data analytics company Palantir Technologies (PLTR), citing the role of its technology in the U.S. immigration crackdown, Reuters reported.
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According to the latest U.S. Securities and Exchange Commission (SEC) filing, the SNB held 6.24 million PLTR shares at the end of 2025 as part of the central bank’s 725 billion Swiss franc foreign currency investments.
Palantir Faces Scrutiny for Alleged Role in Minneapolis Immigration Enforcement
In 2025, Palantir secured a contract with the U.S. Immigration and Customs Enforcement (ICE) to develop surveillance systems. The company faced criticism with regard to this deal following the shootings that resulted in the deaths of two U.S. citizens in separate incidents involving immigration officials in Minneapolis.
On Friday, a delegation of campaigners from Minneapolis attended SNB’s shareholders meeting in Bern and urged the central bank to cut its ties with Palantir, given its links to ICE and surveillance activities.
Janette Corceliu, a member of the delegation, invited to the meeting by campaign group BreakFree Suisse, criticized Palantir, calling it a “threat to our democracy, not just in the United States, but around the world.” Supporting the delegation, Guillaume Durin of BreakFree Suisse said, “Palantir clearly breaches the SNB’s guidelines.” Durin added that SNB’s stake in Palantir gives such companies a “halo of respectability.”
It is worth noting that earlier this year, Palantir CEO, Alex Karp, supported the company’s surveillance technology, assuring that it has safeguards to prevent any potential misuse by government agencies.
Is PLTR Stock a Buy, Sell, or Hold?
PLTR stock has declined 12% over the past month and is down 20% year-to-date amid concerns about its steep valuation, AI disruption, and geopolitical tensions in the Middle East.
Currently, Wall Street has a Moderate Buy consensus rating on Palantir Technologies stock based on 14 Buys, five Holds, and two Sell recommendations. The average PLTR stock price target of $194.06 indicates 37% upside potential.
