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

Principal Financial Group Inc. lowered its stake in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 30.8% during the 3rd quarter, Holdings Channel.com reports. 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 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in 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. Worth Financial Advisory Group LLC increased its position in Evolv Technologies by 42.0% during the second quarter. Worth Financial Advisory Group LLC now owns 15,000 shares of the company’s stock valued at $38,000 after acquiring an additional 4,435 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Evolv Technologies by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,813 shares of the company’s stock valued at $147,000 after acquiring an additional 5,062 shares during the period. Sequoia Financial Advisors LLC boosted its position in Evolv Technologies by 50.5% in the third quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the company’s stock worth $62,000 after purchasing an additional 5,100 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew 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 purchasing an additional 7,119 shares during the period. 66.65% of the stock is currently owned by institutional investors.

Evolv Technologies Trading Up 2.4 %

NASDAQ EVLV opened at $3.44 on Wednesday. Evolv Technologies Holdings, Inc. has a 12 month low of $2.01 and a 12 month high of $5.73. The company’s 50-day moving average price is $3.43 and its 200-day moving average price is $3.18. The stock has a market cap of $541.97 million, a PE ratio of -24.57 and a beta of 1.34.

Analyst Upgrades and Downgrades

EVLV has been the subject of several recent research reports. Lake Street Capital cut their target price on shares of Evolv Technologies from $3.50 to $2.75 and set a “hold” rating for the company in a research report on Monday, October 28th. TD Cowen downgraded shares of Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 28th. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.60.

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.