Principal Financial Group Inc. Sells 429,758 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Principal Financial Group reduced its Palantir stake by 13.1% in the first quarter, selling 429,758 shares and leaving it with 2,857,609 shares valued at about $418.0 million.
• Institutional ownership remains high, with several large investors making major moves in Palantir and institutions collectively holding 45.65% of the stock.
• Palantir remains a heavily watched AI stock, with upcoming second-quarter 2026 earnings set for August 3 and analyst coverage still split between bullish long-term views and concerns over its rich valuation.

Principal Financial Group Inc. trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,857,609 shares of the company's stock after selling 429,758 shares during the period. Principal Financial Group Inc. owned 0.12% of Palantir Technologies worth $418,011,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $5,149,641,000. State Street Corp increased its holdings in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after acquiring an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. raised its stake in Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company's stock worth $1,170,596,000 after acquiring an additional 5,938,343 shares during the period. Corient Private Wealth LLC raised its stake in Palantir Technologies by 1,449.7% during the 4th quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company's stock worth $937,205,000 after acquiring an additional 4,932,364 shares during the period. Finally, Amundi lifted its holdings in Palantir Technologies by 38.7% during the third quarter. Amundi now owns 15,679,158 shares of the company's stock valued at $2,814,879,000 after purchasing an additional 4,373,201 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir said it will report second-quarter 2026 results on August 3 after the market close and host a webcast at 5:00 PM ET, keeping attention on the company’s next earnings catalyst. Palantir Announces Date of Second Quarter 2026 Earnings Release and Webcast
• Positive Sentiment: Several articles highlighted Palantir as a leading AI name, with pieces arguing the stock still has long-term upside and could benefit from continued growth in AI software adoption. Prediction: This Will Be Palantir Technologies' Stock Price in 2030
• Positive Sentiment: Commentary from Palantir co-founder Joe Lonsdale on the AI investment boom reinforced the broader bullish narrative around AI infrastructure, defense tech, and software platforms. Palantir Co-Founder Joe Lonsdale on the AI Investment Boom
• Neutral Sentiment: Multiple articles compared Palantir with other AI stocks such as Snowflake and Super Micro, but these were mostly comparative opinion pieces rather than new company-specific developments. Palantir vs. Snowflake: Which AI Strategy Has the Better Long-Term Potential?
• Neutral Sentiment: Market commentary and interview clips from analysts and media personalities continued to discuss Palantir’s valuation, CEO comments, and AI strategy, keeping the stock in the spotlight but not changing fundamentals directly. ‘One to Admire,’ Says Top Investor About Palantir Stock
• Negative Sentiment: Some coverage questioned Palantir’s rich valuation and suggested investors could find better value elsewhere, which may cap gains if sentiment shifts away from high-multiple AI stocks. Forget Palantir as It Bounces Back and Get in Salesforce Before Wall Street Wakes Up to Real Value
• Negative Sentiment: Several reports also highlighted concerns about AI costs, control, and a “satanic” company video criticized by Jim Cramer, adding some headline risk even as the broader AI story remains supportive. Cramer’s Ultimatum to Palantir: Disavow the “Satanic” Video Today

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $875,044,378.32. This trade represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last 90 days. 9.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on PLTR shares. Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Oppenheimer started coverage on shares of Palantir Technologies in a research report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective on the stock. President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the company from $25.50 to $133.00 in a research note on Monday, June 29th. Wedbush began coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "outperform" rating for the company. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.85.

Palantir Technologies Price Performance

PLTR stock opened at $130.05 on Tuesday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The business has a 50 day simple moving average of $132.40 and a two-hundred day simple moving average of $145.61. The company has a market capitalization of $311.77 billion, a price-to-earnings ratio of 146.13, a PEG ratio of 2.03 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter last year, the business posted $0.13 earnings per share. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.