Principal Financial Group Inc. raised its stake in KnowBe4, Inc. (NASDAQ:KNBE) by 29.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332,020 shares of the company’s stock after purchasing an additional 303,545 shares during the period. Principal Financial Group Inc.’s holdings in KnowBe4 were worth $29,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of KNBE. Silvant Capital Management LLC purchased a new position in KnowBe4 during the 3rd quarter worth approximately $222,000. Daiwa Securities Group Inc. purchased a new position in KnowBe4 during the 3rd quarter worth approximately $62,000. Freemont Management S.A. purchased a new position in KnowBe4 during the 3rd quarter worth approximately $101,000. Davy Global Fund Management Ltd grew its stake in KnowBe4 by 17.7% during the 3rd quarter. Davy Global Fund Management Ltd now owns 175,611 shares of the company’s stock worth $3,856,000 after buying an additional 26,429 shares during the last quarter. Finally, Edge Capital Group LLC purchased a new position in shares of KnowBe4 in the 3rd quarter valued at approximately $451,000. 41.82% of the stock is currently owned by institutional investors.
KNBE has been the topic of several analyst reports. Piper Sandler lowered their target price on KnowBe4 from $35.00 to $31.00 in a research note on Thursday, January 6th. lifted their target price on KnowBe4 from $26.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Wolfe Research initiated coverage on KnowBe4 in a research note on Friday, October 22nd. They issued an “outperform” rating and a $35.00 target price on the stock. The Goldman Sachs Group upgraded KnowBe4 from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $34.00 in a research note on Thursday, November 4th. Finally, Zacks Investment Research upgraded KnowBe4 from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, November 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.40.
KnowBe4 (NASDAQ:KNBE) last released its quarterly earnings results on Wednesday, November 3rd. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $61.28 million. KnowBe4’s revenue for the quarter was up 42.8% compared to the same quarter last year. On average, research analysts anticipate that KnowBe4, Inc. will post -0.12 EPS for the current year.
In other news, CFO Shrikrishna Venkataraman sold 6,073 shares of KnowBe4 stock in a transaction on Monday, November 8th. The stock was sold at an average price of $27.56, for a total value of $167,371.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Klausmeyer sold 1,223 shares of KnowBe4 stock in a transaction on Thursday, January 13th. The shares were sold at an average price of $23.00, for a total value of $28,129.00. The disclosure for this sale can be found here. Insiders have sold 1,751,028 shares of company stock valued at $43,256,426 in the last three months.
KnowBe4, Inc engages in the development of security awareness training and simulated phishing platform. Its security awareness platform enables organizations to assess, monitor, and minimize the ongoing cybersecurity threat of social engineering attacks. The company's products include Kevin Mitnick Security Awareness Training, a security awareness training product; KnowBe4 Enterprise Awareness Training, an integrated platform that simulated random attacks; KCM GRC Platform, a SaaS-based GRC platform; PhishER, analyses suspected attacks that employees report by clicking the Phish Alert Button within their email applications; and KnowBe4 Compliance Manager that help customers save time and resources by providing an intuitive user interface with streamlined workflows that enables visibility into the ongoing audit and compliance processes at various levels of the business.
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