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Anil Chitkara, the Founder and Chief Growth Officer of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), a $522 million market cap company, recently executed a series of stock transactions, as detailed in a recent SEC filing. On March 3, 2025, Chitkara sold 72,148 shares of Evolv Technologies’ Class A common stock, generating proceeds of approximately $238,088. The shares were sold at a weighted average price of $3.30, with individual transaction prices ranging from $3.27 to $3.30. According to InvestingPro data, the stock has shown significant volatility, currently trading near $3.32, down about 16% year-to-date.
In addition to the sale, Chitkara engaged in multiple transactions on March 1, 2025, involving the acquisition of Class A common stock through the exercise of restricted stock units (RSUs). These transactions included the acquisition of 47,765, 53,413, and 45,913 shares, respectively, all at no cost. The RSUs have no expiration date and vest in equal annual installments over a three-year period. InvestingPro analysis shows the company maintains a healthy balance sheet with more cash than debt, and a current ratio of 1.74.
Following these transactions, Chitkara’s direct ownership in Evolv Technologies stands at 1,275,100 shares. The sale on March 3 was primarily intended to cover withholding taxes associated with the vesting of RSUs. For deeper insights into insider trading patterns and comprehensive analysis, including 8 additional ProTips, check out the full company report on InvestingPro.
In other recent news, Evolv Technologies Holdings, Inc. has been granted an extension by the Nasdaq Stock Market to file its overdue financial report, with a new deadline set for May 19, 2025. The company is working with AlixPartners LLP to expedite the filing process and plans to hold a public conference call once the report is submitted. Additionally, Craig-Hallum has raised Evolv Technologies’ price target from $5.75 to $6.75, maintaining a Buy rating, following a strong end to fiscal year 2024 with unit deployments exceeding forecasts by over 25%. This performance has been described as positive, reflecting successful management under new CEO John Kedzierski.
Evolv Technologies also announced the resignation of Board member Merline Saintil, effective January 15, 2025, with Kevin Charlton set to join the Audit Committee. These changes are part of the company’s governance adjustments. Furthermore, John Kedzierski has been appointed as the new President and CEO, taking over from Michael Ellenbogen, who will continue as Chief Innovation Officer. Kedzierski brings extensive experience from Motorola Solutions (NYSE:MSI) and is expected to drive Evolv’s growth and innovation initiatives.
The company has also reported no customer cancellations following a settlement with the FTC, indicating strong customer satisfaction. Evolv’s introduction of its new product, eXpedite, in the fourth quarter is anticipated to positively impact future financial estimates. These developments highlight Evolv Technologies’ ongoing efforts to strengthen its market position and operational effectiveness.
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