Principal Financial Group Inc. Sells 5,434 Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Principal Financial Group Inc. lessened its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 30.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,216 shares of the company’s stock after selling 5,434 shares during the period. Principal Financial Group Inc.’s holdings in Evolv Technologies were worth $49,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EVLV. Arizona State Retirement System lifted its position in shares of Evolv Technologies by 12.9% during the 2nd quarter. Arizona State Retirement System now owns 30,488 shares of the company’s stock valued at $78,000 after buying an additional 3,490 shares during the last quarter. MetLife Investment Management LLC raised its stake in Evolv Technologies by 7.1% in the 3rd quarter. MetLife Investment Management LLC now owns 77,055 shares of the company’s stock valued at $312,000 after acquiring an additional 5,090 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Evolv Technologies by 50.5% during the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock valued at $62,000 after purchasing an additional 5,100 shares during the last quarter. HighTower Advisors LLC boosted its position in Evolv Technologies by 3.1% during the third quarter. HighTower Advisors LLC now owns 202,680 shares of the company’s stock worth $820,000 after purchasing an additional 6,183 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Evolv Technologies by 15.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,399 shares of the company’s stock valued at $134,000 after buying an additional 7,119 shares in the last quarter. Institutional investors own 66.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen cut shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 28th. Northland Capmk lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Lake Street Capital reduced their target price on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Northland Securities cut Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.60.

Evolv Technologies Stock Down 4.1 %

Evolv Technologies stock opened at $3.51 on Wednesday. The business has a 50-day simple moving average of $3.43 and a 200 day simple moving average of $3.48. Evolv Technologies Holdings, Inc. has a 52 week low of $2.01 and a 52 week high of $5.73. The stock has a market cap of $553.00 million, a price-to-earnings ratio of -25.07 and a beta of 1.66.

Evolv Technologies Company Profile

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.