Goldman Sachs Group Inc. Sells 335,386 Shares of Evolv Technologies Holdings, Inc. $EVLV

Key Points

• Goldman Sachs reduced its stake in Evolv Technologies by 43.5%, selling 335,386 shares and now holds approximately 0.27% of the company, valued at about $1.36 million.
• Vanguard Group increased its holdings in Evolv Technologies by 5.3%, acquiring an additional 477,124 shares, bringing its total ownership to around 9.4 million shares valued at $29.3 million.
• Evolv Technologies reported a loss of $0.25 EPS for the last quarter, missing estimates and showing a negative return on equity of 76.80% and a negative net margin of 73.04%.

Goldman Sachs Group Inc. reduced its position in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 43.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 435,083 shares of the company's stock after selling 335,386 shares during the period. Goldman Sachs Group Inc. owned approximately 0.27% of Evolv Technologies worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of EVLV. Vanguard Group Inc. lifted its holdings in Evolv Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock valued at $29,336,000 after acquiring an additional 477,124 shares during the period. Josh Arnold Investment Consultant LLC purchased a new stake in shares of Evolv Technologies during the 1st quarter valued at about $1,248,000. SCS Capital Management LLC purchased a new stake in shares of Evolv Technologies during the 1st quarter valued at about $15,061,000. Nuveen LLC bought a new stake in Evolv Technologies during the first quarter valued at approximately $977,000. Finally, Teacher Retirement System of Texas bought a new stake in Evolv Technologies during the first quarter valued at approximately $50,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Price Performance

Evolv Technologies stock opened at $8.03 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -14.60 and a beta of 1.71. Evolv Technologies Holdings, Inc. has a 1 year low of $2.04 and a 1 year high of $8.91. The firm has a 50-day moving average of $7.44 and a two-hundred day moving average of $5.48.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The firm had revenue of $26.68 million for the quarter, compared to analysts' expectations of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. Research analysts expect that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on EVLV shares. Cantor Fitzgerald lifted their price target on shares of Evolv Technologies from $7.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. Lake Street Capital raised Evolv Technologies from a "hold" rating to a "buy" rating and raised their target price for the stock from $5.50 to $9.00 in a report on Friday, August 15th. TD Cowen restated a "buy" rating and issued a $10.00 price target on shares of Evolv Technologies in a research report on Friday, August 15th. Finally, Zacks Research cut Evolv Technologies from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Evolv Technologies has a consensus rating of "Moderate Buy" and an average target price of $8.88.

Insider Transactions at Evolv Technologies

In related news, major shareholder Gates Frontier, Llc sold 776,236 shares of Evolv Technologies stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $8.20, for a total transaction of $6,365,135.20. Following the transaction, the insider directly owned 17,189,096 shares of the company's stock, valued at $140,950,587.20. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 11.30% of the stock is currently owned by insiders.

About Evolv Technologies

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.

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