Evolv Technologies (NASDAQ:EVLV) Major Shareholder Sells $5,576,545.92 in Stock

Key Points

• Major shareholder Gates Frontier, LLC sold 694,464 shares of Evolv Technologies at an average price of $8.03, totaling approximately $5.58 million, reducing their stake by 3.72%.
• Evolv Technologies reported a net loss of ($0.25) earnings per share for the last quarter, missing estimates, with revenue of $26.68 million compared to expected $30.95 million.
• Several analysts have recently upgraded their ratings for Evolv Technologies, with price targets ranging from $7.50 to $10.00, indicating a generally positive outlook for the stock.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) major shareholder Gates Frontier, Llc sold 694,464 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $8.03, for a total value of $5,576,545.92. Following the sale, the insider owned 17,965,332 shares in the company, valued at $144,261,615.96. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Gates Frontier, Llc also recently made the following trade(s):

• On Thursday, September 11th, Gates Frontier, Llc sold 776,236 shares of Evolv Technologies stock. The shares were sold at an average price of $8.20, for a total value of $6,365,135.20.

Evolv Technologies Stock Performance

EVLV traded down $0.22 during trading on Wednesday, reaching $8.15. 4,817,801 shares of the stock were exchanged, compared to its average volume of 2,940,693. The stock's 50 day moving average price is $7.35 and its two-hundred day moving average price is $5.39. Evolv Technologies Holdings, Inc. has a twelve month low of $2.04 and a twelve month high of $8.91. The stock has a market cap of $1.40 billion, a P/E ratio of -14.82 and a beta of 1.71.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). The firm had revenue of $26.68 million during the quarter, compared to analyst estimates 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. Equities research analysts predict that Evolv Technologies Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolv Technologies

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Evolv Technologies by 300.1% during the second quarter. Tower Research Capital LLC TRC now owns 20,577 shares of the company's stock valued at $128,000 after purchasing an additional 15,434 shares in the last quarter. Militia Capital Partners LP lifted its position in shares of Evolv Technologies by 26.9% during the 2nd quarter. Militia Capital Partners LP now owns 330,000 shares of the company's stock worth $2,059,000 after buying an additional 70,000 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Evolv Technologies in the second quarter valued at about $7,041,000. BNP Paribas Financial Markets boosted its stake in shares of Evolv Technologies by 38.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock valued at $81,000 after purchasing an additional 3,596 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in Evolv Technologies by 371.4% in the 2nd quarter. Brevan Howard Capital Management LP now owns 130,591 shares of the company's stock valued at $815,000 after purchasing an additional 102,891 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on EVLV. Zacks Research lowered Evolv Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th. Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target on the stock in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, TD Cowen reissued a "buy" rating and issued a $10.00 price objective on shares of Evolv Technologies in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.88.

Evolv Technologies Company 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.