Stem, Inc. CEO and Director John Eugene Carrington has sold 194,171 shares of the company's common stock, valued at a total of approximately $359,216, according to a recent SEC filing. The transaction occurred on May 2, 2024, with shares sold at a price of $1.85 each.
The sale was part of an automatic transaction to cover Carrington's tax liability associated with the settlement of restricted stock units (RSUs), as indicated in a prior Form 4 filing dated April 30, 2024. It is important to note that this "sell to cover" transaction is not considered a discretionary trade by Carrington.
Following the transaction, Carrington's ownership in the company stands at 506,585 shares of common stock. Stem, Inc., which trades under the ticker NYSE:STEM, is known for its role in the miscellaneous electrical machinery, equipment, and supplies sector.
Investors and market watchers often pay close attention to insider sales and purchases as they can provide insights into executives' perspectives on the company's future performance. However, automatic transactions like this one are typically pre-scheduled and not necessarily indicative of changing sentiment by the executive.
The transaction was executed in accordance with SEC regulations, and the details were made public through the mandatory Form 4 filing, offering transparency into the trading activities of the company's insiders.
InvestingPro Insights
Recent developments at Stem, Inc. have caught the eye of investors, especially following the insider transaction by CEO John Eugene Carrington. To provide a broader context on the company's financial health and market performance, InvestingPro data and tips offer valuable insights.
InvestingPro Data reveals that Stem, Inc. has a market capitalization of 226.31 million USD, indicating its size relative to other companies in the sector. Its revenue for the last twelve months as of Q1 2024 stands at 419.58 million USD, with a growth rate of 7.78%, pointing towards a positive trajectory in sales. However, the company's gross profit margin is negative at -4.22%, reflecting challenges in maintaining profitability amidst its costs.
Two significant InvestingPro Tips for Stem, Inc. include the company's significant debt burden and its struggle to maintain gross profit margins. These factors are critical as they could impact the company's ability to navigate financial obligations and sustain operations effectively. Notably, analysts have revised their earnings downwards for the upcoming period, suggesting caution among experts regarding Stem's near-term financial prospects.
For investors seeking a deeper analysis of Stem, Inc., there are additional InvestingPro Tips available, which could further inform investment decisions. To explore these tips and gain a comprehensive understanding of Stem's financial and market position, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/STEM.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.