State Board of Administration of Florida Retirement System Purchases Shares of 21,660 Stem, Inc. (NYSE:STEM)

State Board of Administration of Florida Retirement System purchased a new stake in Stem, Inc. (NYSE:STEMGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 21,660 shares of the company’s stock, valued at approximately $155,000.

Several other large investors have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. grew its position in shares of Stem by 45.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,817 shares of the company’s stock worth $75,000 after purchasing an additional 2,140 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Stem during the 1st quarter worth approximately $265,000. Arizona State Retirement System acquired a new position in shares of Stem during the 1st quarter worth approximately $151,000. Advisor Group Holdings Inc. grew its position in shares of Stem by 59.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 51,273 shares of the company’s stock worth $565,000 after purchasing an additional 19,172 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Stem by 12.8% during the 1st quarter. New York State Common Retirement Fund now owns 81,153 shares of the company’s stock worth $893,000 after purchasing an additional 9,238 shares in the last quarter. 52.42% of the stock is owned by institutional investors.

Stem Stock Performance

Shares of Stem stock opened at $12.79 on Wednesday. The company’s 50 day moving average price is $13.47 and its two-hundred day moving average price is $11.38. The firm has a market capitalization of $1.98 billion, a P/E ratio of -15.79 and a beta of 2.09. Stem, Inc. has a fifty-two week low of $5.72 and a fifty-two week high of $23.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.23 and a quick ratio of 2.11.

Stem (NYSE:STEMGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.07). The business had revenue of $99.50 million for the quarter, compared to the consensus estimate of $89.81 million. Stem had a negative net margin of 47.19% and a negative return on equity of 21.30%. On average, equities analysts forecast that Stem, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on STEM. Guggenheim set a $17.00 target price on shares of Stem in a research report on Thursday, September 29th. Morgan Stanley increased their price target on shares of Stem from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 29th. UBS Group assumed coverage on shares of Stem in a research report on Tuesday, October 25th. They set a “buy” rating and a $19.00 price target on the stock. Northland Securities assumed coverage on shares of Stem in a research report on Wednesday, September 7th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Cowen reduced their price target on shares of Stem from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, September 29th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Stem has an average rating of “Moderate Buy” and an average target price of $19.78.

Insider Buying and Selling

In related news, CTO Larsh Johnson sold 12,500 shares of Stem stock in a transaction on Monday, November 14th. The shares were sold at an average price of $13.46, for a total transaction of $168,250.00. Following the completion of the transaction, the chief technology officer now owns 119,956 shares of the company’s stock, valued at $1,614,607.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Stem news, CTO Larsh Johnson sold 12,500 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $13.46, for a total value of $168,250.00. Following the completion of the sale, the chief technology officer now directly owns 119,956 shares in the company, valued at $1,614,607.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kim Homenock sold 26,702 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $17.05, for a total transaction of $455,269.10. Following the completion of the sale, the insider now owns 26,702 shares of the company’s stock, valued at $455,269.10. The disclosure for this sale can be found here. Insiders sold 429,912 shares of company stock valued at $6,520,950 over the last quarter. Insiders own 7.20% of the company’s stock.

Stem Profile

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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.

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Institutional Ownership by Quarter for Stem (NYSE:STEM)

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