Principal Financial Group Inc. Has $11.03 Million Stock Holdings in Guardant Health, Inc. $GH

Principal Financial Group Inc. decreased its stake in Guardant Health, Inc. (NASDAQ:GH) by 32.8% in the third quarter, Holdings Channel reports. The institutional investor owned 176,516 shares of the company’s stock after selling 86,006 shares during the quarter. Principal Financial Group Inc.’s holdings in Guardant Health were worth $11,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. increased its stake in shares of Guardant Health by 3.2% in the third quarter. TD Waterhouse Canada Inc. now owns 4,891 shares of the company’s stock worth $306,000 after acquiring an additional 151 shares during the last quarter. IFP Advisors Inc increased its position in Guardant Health by 120.1% in the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after purchasing an additional 334 shares during the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of Guardant Health by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 21,257 shares of the company’s stock valued at $1,106,000 after buying an additional 348 shares during the last quarter. CWM LLC lifted its holdings in shares of Guardant Health by 21.6% during the 3rd quarter. CWM LLC now owns 2,020 shares of the company’s stock valued at $126,000 after buying an additional 359 shares during the last quarter. Finally, F m Investments LLC grew its stake in shares of Guardant Health by 1.2% in the 2nd quarter. F m Investments LLC now owns 39,099 shares of the company’s stock valued at $2,035,000 after buying an additional 471 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Price Performance

Guardant Health stock opened at $107.58 on Thursday. Guardant Health, Inc. has a fifty-two week low of $34.88 and a fifty-two week high of $120.74. The firm has a fifty day moving average price of $106.44 and a two-hundred day moving average price of $83.20. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of -33.51 and a beta of 1.63.

Insider Buying and Selling at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $105.05, for a total transaction of $10,505,000.00. Following the completion of the sale, the chief executive officer owned 168,223 shares in the company, valued at $17,671,826.15. This represents a 37.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Helmy Eltoukhy sold 90,565 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $103.82, for a total value of $9,402,458.30. Following the completion of the sale, the chief executive officer directly owned 2,047,143 shares in the company, valued at $212,534,386.26. This trade represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 434,627 shares of company stock worth $45,592,052 in the last ninety days. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Guardant Health from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus lifted their price objective on shares of Guardant Health from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a report on Thursday, January 22nd. Finally, Barclays upped their price target on Guardant Health from $85.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Twenty-one research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average target price of $106.86.

Guardant Health Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.