Arizona State Retirement System Boosts Stake in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)

Arizona State Retirement System raised its holdings in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) by 17.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,254 shares of the company’s stock after acquiring an additional 4,010 shares during the period. Arizona State Retirement System’s holdings in Evolv Technologies were worth $129,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in Evolv Technologies in the third quarter valued at approximately $49,000. Worth Financial Advisory Group LLC purchased a new stake in shares of Evolv Technologies during the 4th quarter valued at $50,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Evolv Technologies during the 3rd quarter worth $73,000. Global Retirement Partners LLC grew its position in Evolv Technologies by 28.8% in the third quarter. Global Retirement Partners LLC now owns 17,000 shares of the company’s stock worth $79,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Quent Capital LLC increased its stake in Evolv Technologies by 53.8% in the fourth quarter. Quent Capital LLC now owns 20,000 shares of the company’s stock valued at $94,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

Shares of Evolv Technologies stock opened at $3.88 on Tuesday. The stock has a market capitalization of $603.65 million, a price-to-earnings ratio of -5.32 and a beta of 1.35. The company has a fifty day moving average of $4.21 and a 200-day moving average of $4.31. Evolv Technologies Holdings, Inc. has a 52-week low of $3.00 and a 52-week high of $8.30.

Evolv Technologies (NASDAQ:EVLV) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $21.82 million during the quarter, compared to analyst estimates of $18.81 million. Evolv Technologies had a negative net margin of 132.13% and a negative return on equity of 47.56%. On average, equities research analysts forecast that Evolv Technologies Holdings, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Anil Chitkara sold 50,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider now owns 1,200,157 shares of the company’s stock, valued at $6,000,785. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the sale, the insider now owns 1,200,157 shares of the company’s stock, valued at approximately $6,000,785. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Ellenbogen sold 54,873 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $5.04, for a total transaction of $276,559.92. Following the transaction, the insider now directly owns 1,975,473 shares of the company’s stock, valued at $9,956,383.92. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price objective on shares of Evolv Technologies in a report on Thursday, March 28th.

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.