Foundations Investment Advisors LLC Sells 5,841 Shares of Stem, Inc. (NYSE:STEM)

Foundations Investment Advisors LLC decreased its holdings in Stem, Inc. (NYSE:STEMGet Rating) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,600 shares of the company’s stock after selling 5,841 shares during the period. Foundations Investment Advisors LLC owned 0.05% of Stem worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STEM. Itau Unibanco Holding S.A. bought a new position in shares of Stem in the fourth quarter worth about $49,000. Point72 Hong Kong Ltd purchased a new stake in shares of Stem in the first quarter worth about $67,000. Daiwa Securities Group Inc. lifted its position in shares of Stem by 45.8% in the first quarter. Daiwa Securities Group Inc. now owns 6,817 shares of the company’s stock worth $75,000 after buying an additional 2,140 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Stem by 2,688.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,186 shares of the company’s stock worth $98,000 after buying an additional 5,000 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Stem by 56.7% in the first quarter. National Bank of Canada FI now owns 9,670 shares of the company’s stock worth $106,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 52.42% of the company’s stock.

Insider Transactions at Stem

In other news, CRO Alan Russo sold 160,210 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $14.70, for a total value of $2,355,087.00. Following the sale, the executive now directly owns 139,594 shares in the company, valued at $2,052,031.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CRO Alan Russo sold 160,210 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $14.70, for a total value of $2,355,087.00. Following the sale, the executive now directly owns 139,594 shares in the company, valued at $2,052,031.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Saul R. Laureles sold 14,125 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $15.00, for a total value of $211,875.00. Following the completion of the sale, the insider now owns 16,453 shares in the company, valued at $246,795. The disclosure for this sale can be found here. Over the last three months, insiders have sold 815,314 shares of company stock worth $12,554,750. 7.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley boosted their target price on Stem from $13.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Northland Securities assumed coverage on Stem in a research report on Wednesday, September 7th. They issued an “outperform” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stem has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Stem Stock Down 3.2 %

Shares of STEM stock opened at $16.44 on Friday. Stem, Inc. has a 1 year low of $5.72 and a 1 year high of $27.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.40. The stock’s 50 day simple moving average is $13.00 and its two-hundred day simple moving average is $10.16.

Stem (NYSE:STEMGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). Stem had a net margin of 13.48% and a return on equity of 2.83%. The company had revenue of $66.95 million for the quarter, compared to analysts’ expectations of $59.96 million. Equities research analysts anticipate that Stem, Inc. will post -0.67 earnings per share for the current year.

About Stem

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Stem, Inc operates as a digitally connected and intelligent energy storage network provider in the United States and internationally. It offers energy storage systems sourced from original equipment manufacturers (OEMs). The company also provides Athena, an artificial intelligence platform, which offers battery hardware and software-enabled services to operate the energy storage systems.

See Also

Institutional Ownership by Quarter for Stem (NYSE:STEM)

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