Evolv Technologies director Michael Ellenbogen sells $451,403 in stock By Investing.com

Michael Ellenbogen, a director at Evolv Technologies Holdings, Inc. (), sold shares worth $451,403 on August 17, 2026, according to a recent SEC filing.

The transaction involved the sale of 80,752 shares of Class A Common Stock at a weighted average price of $5.59 per share. These sales were executed pursuant to a Rule 10b5-1 trading plan, which Mr. Ellenbogen established on June 12, 2025. The sale comes as EVLV stock trades near its 52-week low of $4.87, with shares down 29% year-to-date. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, with the platform offering additional insights through its comprehensive Pro Research Report covering over 1,400 US equities.

On the same date, Mr. Ellenbogen also acquired 80,752 shares of Class A Common Stock by exercising stock options at a price of $0.24 per share, totaling $19,380. These options had an exercise price of $0.24 and vested over time, with 25% becoming exercisable on January 31, 2018, and the remainder vesting in 36 equal monthly installments thereafter.

Following these transactions, Mr. Ellenbogen directly holds 2,083,961 shares of Class A Common Stock. An additional 151,135 shares are held indirectly by the Family Horizon Trust.

In other recent news, Evolv Technologies reported second-quarter 2026 results that exceeded Wall Street expectations in both earnings and revenue. The company posted an adjusted loss per share of $0.02, better than the anticipated loss of $0.03, while revenue increased to $43.8 million, surpassing the forecast of $41.81 million. Evolv Technologies also raised its full-year 2026 revenue guidance to a range of $180 million to $185 million, up from the previous estimate of $175 million to $180 million. Additionally, adjusted EBITDA increased to $4.4 million, more than doubling from the previous year, and annual recurring revenue grew by 20% to $132.7 million.

Craig-Hallum responded to these strong results by raising its price target for Evolv Technologies to $11.25 from $10.50, maintaining a Buy rating on the shares. The firm highlighted the company’s impressive second-quarter performance and its decision to significantly raise guidance, driven by robust growth in units deployed. Evolv Technologies also reported that cash flow turned positive a quarter earlier than expected, with the expectation to remain cash flow positive through 2026. The company noted a 34% revenue increase from the previous year, attributed to strong demand for its AI-powered weapons detection systems and a favorable comparison due to its shift to a direct fulfillment model in 2025.

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