Cigna Investments Inc. New Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cigna Investments Inc. New lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,622 shares of the company’s stock after selling 255 shares during the period. Cigna Investments Inc. New’s holdings in Palantir Technologies were worth $1,560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tritonpoint Wealth LLC increased its position in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Kennebec Savings Bank lifted its holdings in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares during the period. RMR Wealth Builders lifted its holdings in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares during the period. Bay Rivers Group lifted its holdings in Palantir Technologies by 2.7% in the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. lifted its holdings in Palantir Technologies by 3.0% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after buying an additional 174 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. The trade was a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock valued at $1,040,105,687 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLTR. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group raised their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, DA Davidson raised their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Price Performance

Shares of PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $116.76. The firm has a market capitalization of $265.73 billion, a P/E ratio of 613.98, a PEG ratio of 11.44 and a beta of 2.81. The business has a fifty day moving average of $77.34 and a 200 day moving average of $53.60.

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.