Principal Financial Group Inc. Has $191,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Principal Financial Group Inc. reduced its holdings in Archer Aviation Inc. (NYSE:ACHR) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,615 shares of the company’s stock after selling 1,956 shares during the period. Principal Financial Group Inc.’s holdings in Archer Aviation were worth $191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACHR. GPS Wealth Strategies Group LLC increased its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after buying an additional 3,339 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Archer Aviation by 50.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after buying an additional 5,000 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Archer Aviation during the 4th quarter worth about $49,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Archer Aviation

In related news, General Counsel Eric Lentell sold 43,230 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00. Following the transaction, the general counsel now directly owns 53,225 shares of the company’s stock, valued at $409,832.50. This represents a 44.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis bought 751,879 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the purchase, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,046,926 shares of company stock worth $8,695,783 over the last three months. 9.75% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on ACHR. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC boosted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Trading Down 0.5 %

ACHR opened at $7.53 on Friday. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $9.30 and a 200-day moving average of $6.40. The stock has a market cap of $3.20 billion, a PE ratio of -5.70 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.