Principal Financial Group Inc. Has $105.64 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Principal Financial Group Inc. lifted its stake in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 226.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,839,680 shares of the company's stock after acquiring an additional 1,969,213 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Palantir Technologies worth $105,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter worth $30,000. Finally, Beacon Capital Management LLC increased its position in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock worth $35,000 after buying an additional 1,105 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares in the company, valued at $18,507,061.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares in the company, valued at $18,507,061.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Glazer sold 72,500 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the sale, the insider now owns 298,012 shares of the company's stock, valued at $9,292,014.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496 in the last three months. 12.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on PLTR. Raymond James downgraded shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Monness Crespi & Hardt decreased their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating for the company in a report on Tuesday, August 6th. Jefferies Financial Group cut shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target for the company. in a report on Thursday. Finally, DA Davidson upped their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $31.71.

Palantir Technologies Stock Performance

NYSE PLTR traded up $2.51 during trading on Friday, reaching $58.39. 84,124,034 shares of the company traded hands, compared to its average volume of 57,568,527. The stock's 50 day moving average price is $40.13 and its two-hundred day moving average price is $30.59. The company has a market cap of $130.76 billion, a price-to-earnings ratio of 292.11 and a beta of 2.70. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $58.48.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies's revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Palantir Technologies Company Profile

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.