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

Principal Financial Group Inc. decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 648,218 shares of the biotechnology company's stock after selling 14,218 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Exelixis worth $23,932,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of EXEL. Coppell Advisory Solutions LLC bought a new stake in shares of Exelixis during the 4th quarter worth about $25,000. Colonial Trust Co SC raised its holdings in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis in the first quarter worth approximately $37,000. Crowley Wealth Management Inc. bought a new position in Exelixis during the 4th quarter valued at $50,000. Finally, Hurley Capital LLC acquired a new position in shares of Exelixis during the 4th quarter valued at $68,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Down 0.7%

Shares of NASDAQ:EXEL traded down $0.31 during trading on Friday, reaching $44.86. 2,063,340 shares of the company traded hands, compared to its average volume of 2,526,352. The firm has a fifty day simple moving average of $42.42 and a 200 day simple moving average of $38.06. Exelixis, Inc. has a 1-year low of $22.20 and a 1-year high of $49.62. The firm has a market cap of $12.23 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.90 and a beta of 0.28.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 target price (up from $40.00) on shares of Exelixis in a report on Wednesday, May 14th. Barclays increased their target price on shares of Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday. Benchmark restated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Citigroup increased their price objective on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Stifel Nicolaus lifted their target price on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.72.

Insider Transactions at Exelixis

In other Exelixis news, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the transaction, the chief marketing officer directly owned 465,393 shares in the company, valued at $21,161,419.71. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the transaction, the director directly owned 358,882 shares in the company, valued at $15,464,225.38. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,113 shares of company stock valued at $21,024,817 in the last three months. 2.82% of the stock is currently owned by company insiders.

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.