Principal Financial Group Inc. Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Principal Financial Group Inc. increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 226.2% in the third quarter, HoldingsChannel reports. The firm owned 2,839,680 shares of the company’s stock after buying an additional 1,969,213 shares during the quarter. Principal Financial Group Inc.’s holdings in Palantir Technologies were worth $105,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 lifted its stake 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 worth $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. Tyler Stone Wealth Management increased its stake in Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Palantir Technologies during the third quarter worth about $639,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLTR shares. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Northland Securities increased 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 note on Tuesday, November 5th. Wedbush boosted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.00.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $80.55 on Friday. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $80.91. The firm has a 50-day moving average of $59.06 and a two-hundred day moving average of $40.26. The stock has a market cap of $183.49 billion, a P/E ratio of 402.77, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the transaction, the director now directly owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. The trade was a 7.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $43,908.64. The trade was a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,612,366 shares of company stock worth $1,867,342,292 over the last 90 days. Insiders own 12.93% of the company’s stock.

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.