Principal Financial Group Inc. Sells 14,218 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Principal Financial Group Inc. lessened its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 648,218 shares of the biotechnology company's stock after selling 14,218 shares during the period. Principal Financial Group Inc. owned approximately 0.24% of Exelixis worth $23,932,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of EXEL. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis during the fourth quarter valued at $25,000. Colonial Trust Co SC raised its holdings in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Exelixis in the 1st quarter worth about $37,000. Crowley Wealth Management Inc. purchased a new position in shares of Exelixis in the 4th quarter worth about $50,000. Finally, Hurley Capital LLC purchased a new position in shares of Exelixis in the 4th quarter worth about $68,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on EXEL. Royal Bank Of Canada reiterated a "sector perform" rating and set a $50.00 target price (up from $45.00) on shares of Exelixis in a report on Tuesday. JMP Securities lifted their target price on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Monday, June 23rd. HC Wainwright raised their price target on Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a report on Monday, June 30th. UBS Group reaffirmed an "underperform" rating on shares of Exelixis in a report on Thursday, April 17th. Finally, Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.11.

Insider Activity

In other news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the transaction, the chief marketing officer owned 465,393 shares in the company, valued at $21,161,419.71. This represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 34,387 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.06, for a total value of $1,515,091.22. Following the completion of the transaction, the executive vice president owned 412,072 shares in the company, valued at $18,155,892.32. This represents a 7.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 458,113 shares of company stock worth $21,024,817. 2.85% of the stock is owned by company insiders.

Exelixis Stock Performance

NASDAQ EXEL traded up $0.56 on Wednesday, reaching $44.07. The company's stock had a trading volume of 2,458,042 shares, compared to its average volume of 2,510,095. Exelixis, Inc. has a twelve month low of $21.86 and a twelve month high of $49.62. The stock has a market cap of $12.02 billion, a PE ratio of 20.03, a PEG ratio of 0.89 and a beta of 0.28. The firm's 50 day moving average is $42.09 and its two-hundred day moving average is $37.83.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.