Principal Financial Group Inc. Trims Stake in Palantir Technologies Inc. (NYSE:PLTR)

Principal Financial Group Inc. lessened its position in shares of Palantir Technologies Inc. (NYSE:PLTRFree Report) by 14.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,767 shares of the company’s stock after selling 33,880 shares during the quarter. Principal Financial Group Inc.’s holdings in Palantir Technologies were worth $3,396,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLTR. Victory Capital Management Inc. raised its position in Palantir Technologies by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after purchasing an additional 25,787 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Palantir Technologies in the third quarter valued at about $177,000. Sigma Planning Corp raised its holdings in shares of Palantir Technologies by 38.0% in the third quarter. Sigma Planning Corp now owns 51,135 shares of the company’s stock valued at $818,000 after buying an additional 14,092 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Palantir Technologies by 40.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 938,188 shares of the company’s stock worth $15,011,000 after buying an additional 270,867 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Palantir Technologies by 24.0% during the third quarter. Barclays PLC now owns 3,479,332 shares of the company’s stock worth $55,670,000 after buying an additional 672,362 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $21.66 on Friday. The company has a market cap of $48.23 billion, a price-to-earnings ratio of 180.52, a PEG ratio of 4.83 and a beta of 2.76. Palantir Technologies Inc. has a one year low of $13.56 and a one year high of $27.50. The business’s fifty day moving average is $22.10 and its two-hundred day moving average is $20.82.

Palantir Technologies (NYSE:PLTRGet Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. On average, analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLTR. Wedbush reiterated an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a research note on Monday, May 6th. HSBC upped their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Raymond James increased their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Finally, Bank of America lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $20.65.

Read Our Latest Stock Report on Palantir Technologies

Insider Activity

In related news, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the sale, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The disclosure for this sale can be found here. Insiders have sold 18,407,722 shares of company stock worth $414,449,200 over the last ninety days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Profile

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

Further Reading

Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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