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. trimmed its position in shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 435,083 shares of the company's stock after selling 335,386 shares during the period. Goldman Sachs Group Inc. owned 0.27% of Evolv Technologies worth $1,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of Evolv Technologies during the 4th quarter valued at $40,000. CW Advisors LLC purchased a new position in shares of Evolv Technologies during the 1st quarter valued at $33,000. Teacher Retirement System of Texas purchased a new position in shares of Evolv Technologies during the 1st quarter valued at $50,000. PDT Partners LLC purchased a new position in shares of Evolv Technologies during the 1st quarter valued at $57,000. Finally, SouthState Corp grew its holdings in shares of Evolv Technologies by 420.1% during the 1st quarter. SouthState Corp now owns 18,571 shares of the company's stock valued at $58,000 after acquiring an additional 15,000 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

Evolv Technologies Trading Up 1.6%

NASDAQ EVLV traded up $0.14 on Tuesday, reaching $8.58. The company's stock had a trading volume of 1,993,043 shares, compared to its average volume of 2,615,889. The firm has a market cap of $1.47 billion, a PE ratio of -15.52 and a beta of 1.71. The business has a 50-day moving average price of $7.50 and a 200 day moving average price of $5.53. Evolv Technologies Holdings, Inc. has a 52 week low of $2.04 and a 52 week high of $8.91.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Lake Street Capital upgraded shares of Evolv Technologies from a "hold" rating to a "buy" rating and boosted their price target for the company from $5.50 to $9.00 in a report on Friday, August 15th. Zacks Research lowered shares of Evolv Technologies from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 27th. TD Cowen reaffirmed a "buy" rating and set a $10.00 price objective on shares of Evolv Technologies in a research report on Friday, August 15th. Finally, Cantor Fitzgerald upped their price objective on shares of Evolv Technologies from $7.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.88.

Insiders Place Their Bets

In related news, major shareholder Gates Frontier, Llc sold 776,236 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20. Following the sale, the insider owned 17,189,096 shares of the company's stock, valued at $140,950,587.20. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.