Goldman Sachs Group Inc. Sells 219,715 Shares of Stem, Inc. $STEM

Key Points

• Goldman Sachs Group Inc. reduced its stake in Stem, Inc. by 35.9%, selling 219,715 shares and now holds 392,181 shares worth $137,000.
• Stem, Inc. reported (3.73) EPS for the quarter, missing estimates, while revenue was $38.40 million, surpassing projections of $32.18 million.
• Analysts have mixed views on Stem, with a consensus price target of $10.86 and several brokerages assigning "Hold" ratings.

Goldman Sachs Group Inc. cut its position in shares of Stem, Inc. (NYSE:STEM - Free Report) by 35.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 392,181 shares of the company's stock after selling 219,715 shares during the period. Goldman Sachs Group Inc. owned about 4.71% of Stem worth $137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of STEM. AQR Capital Management LLC increased its position in shares of Stem by 505.8% during the first quarter. AQR Capital Management LLC now owns 1,482,790 shares of the company's stock valued at $519,000 after purchasing an additional 1,238,012 shares during the period. Cerity Partners LLC bought a new stake in Stem in the first quarter valued at $29,000. Charles Schwab Investment Management Inc. grew its position in Stem by 22.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 444,053 shares of the company's stock valued at $156,000 after acquiring an additional 80,000 shares during the period. CWM LLC grew its position in Stem by 317.7% in the first quarter. CWM LLC now owns 89,913 shares of the company's stock valued at $31,000 after acquiring an additional 68,386 shares during the period. Finally, Hsbc Holdings PLC grew its position in Stem by 5.6% in the first quarter. Hsbc Holdings PLC now owns 873,282 shares of the company's stock valued at $307,000 after acquiring an additional 46,573 shares during the period. 61.63% of the stock is currently owned by institutional investors.

Stem Stock Down 3.7%

Shares of STEM opened at $17.20 on Tuesday. Stem, Inc. has a 12-month low of $5.81 and a 12-month high of $33.60. The firm has a market capitalization of $144.34 million, a PE ratio of -0.59 and a beta of 1.32. The stock's fifty day simple moving average is $15.39 and its 200-day simple moving average is $11.15.

Stem (NYSE:STEM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.00) by ($0.73). The firm had revenue of $38.40 million during the quarter, compared to analyst estimates of $32.18 million. Stem has set its FY 2025 guidance at EPS. Analysts anticipate that Stem, Inc. will post -0.52 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on STEM. Barclays set a $13.00 price target on Stem and gave the company an "equal weight" rating in a research report on Monday, August 11th. UBS Group upped their price target on Stem from $8.60 to $16.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $10.86.

Stem Profile

Stem, Inc operates as a digitally connected, intelligent, and renewable energy storage network provider worldwide. The company offers energy storage hardware sourced from original equipment manufacturers (OEMs); edge hardware to aid in the collection of site data and real-time operation and control of the site and other optional equipment; and Athena, a software platform, which offers battery hardware and software-enabled services to operate the energy storage systems.

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