Principal Financial Group Inc. Purchases 1,969,213 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Principal Financial Group Inc. raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 226.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,839,680 shares of the company's stock after purchasing an additional 1,969,213 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Palantir Technologies worth $105,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. State of Alaska Department of Revenue grew its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company's stock valued at $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management raised its holdings in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company's stock worth $7,515,000 after purchasing an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in Palantir Technologies during the third quarter valued at $639,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $6.34 during trading hours on Friday, reaching $80.55. The company's stock had a trading volume of 278,689,000 shares, compared to its average volume of 61,560,238. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $80.91. The firm has a 50 day moving average price of $59.06 and a 200-day moving average price of $40.26. The stock has a market cap of $183.49 billion, a P/E ratio of 402.77, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during 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% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Peter Thiel sold 4,254,666 shares of Palantir Technologies stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the sale, the director now directly owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. This trade represents a 7.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,612,366 shares of company stock worth $1,867,342,292 over the last 90 days. Company insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PLTR shares. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. Mizuho upped their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Raymond James lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $41.00.

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.