Palantir Technologies Inc. (NASDAQ:PLTR) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,698,809 shares of the company's stock after selling 34,157 shares during the period. Principal Financial Group Inc. owned 0.12% of Palantir Technologies worth $227,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $33,000. Godsey & Gibb Inc. raised its holdings in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares during the period. Arlington Trust Co LLC raised its holdings in shares of Palantir Technologies by 542.9% during the first quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after purchasing an additional 380 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $35,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.6%

PLTR traded up $2.15 on Friday, reaching $134.27. The company had a trading volume of 41,812,483 shares, compared to its average volume of 83,051,463. The company has a fifty day moving average of $128.47 and a 200-day moving average of $101.68. The company has a market capitalization of $316.85 billion, a P/E ratio of 583.76, a PEG ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm posted $0.08 EPS. The business's revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,451,497 shares of company stock worth $186,110,685. Company insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLTR. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $89.32.

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.