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

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

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Evolv Technologies by 6.0% during the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after purchasing an additional 407,396 shares during the period. Key Colony Management LLC lifted its position in shares of Evolv Technologies by 12.1% during the 3rd quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after buying an additional 545,492 shares during the last quarter. Sapient Capital LLC grew its stake in shares of Evolv Technologies by 7.3% during the 2nd quarter. Sapient Capital LLC now owns 737,136 shares of the company’s stock worth $1,880,000 after acquiring an additional 50,400 shares during the period. Silvercrest Asset Management Group LLC bought a new position in shares of Evolv Technologies during the 1st quarter worth $2,897,000. Finally, Marathon Capital Management increased its holdings in Evolv Technologies by 6.5% in the 2nd quarter. Marathon Capital Management now owns 527,450 shares of the company’s stock worth $1,345,000 after acquiring an additional 32,000 shares during the last quarter. Institutional investors own 66.65% of the company’s stock.

Analysts Set New Price Targets

EVLV has been the subject of several analyst reports. Northland Capmk downgraded shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. Lake Street Capital decreased their price objective on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, TD Cowen downgraded Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. One equities 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.60.

Evolv Technologies Stock Performance

NASDAQ EVLV opened at $3.44 on Wednesday. Evolv Technologies Holdings, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.73. The stock has a market cap of $541.97 million, a P/E ratio of -24.57 and a beta of 1.34. The stock has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $3.18.

Evolv Technologies 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.