The CEO of Evolv Technologies sold 74,322 shares for over $522,000, reducing direct ownership by 34.57%. The sale followed the exercise of 207,000 options, with no indirect holdings reported. The stock closed at $7.03, reflecting a one-year return of 132.69%.

Evolv Technologies offers touchless security screening systems using AI, generating revenue through hardware, software subscriptions, and analytics platforms. It serves venues with high foot traffic, like stadiums and schools. The company focuses on efficient security solutions in high-traffic environments through AI-driven technology.

The sale by the CEO of Evolv Technologies was to cover withholding taxes triggered by the vesting of restricted stock units, not a change in conviction. Financially, the company saw revenue rise 57% year over year to $42.9 million in the third quarter, with adjusted EBITDA turning positive at $5.1 million. Management raised full-year revenue guidance to $142 million to $145 million.

Read more at Yahoo Finance: What Investors Should Know About a $520K Evolv CEO Stock Sale as Shares Jump 130%