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Steven Sheldon

Partner and Senior Equity Research Analyst at William Blair & Company, L.L.C.

Stephen Sheldon is a Partner and Senior Equity Research Analyst at William Blair & Company, L.L.C., specializing in vertical technology with a sector focus on real estate, education, and restaurant/hospitality. He covers a broad range of companies including Real Brokerage Inc., Ellie Mae, Instructure, Pluralsight, Realpage, Chegg, Latch, Logistic Properties of the Americas, and Black Knight, and maintains a strong performance record with a 65% success rate and an average return of 8.5% per rating, according to TipRanks. Sheldon joined William Blair in September 2011 after earning a B.S. in accounting and business administration from the University of Kansas and a master’s in professional accounting from the University of Texas, and was recognized as an Institutional Investor Rising Star in 2018. He holds both CFA and CPA designations, underscoring his expertise and credentials in equity research and analysis.

Steven Sheldon's questions to Alarm.com Holdings (ALRM) leadership

Question · Q4 2025

Steven Sheldon inquired about the traction of Alarm.com's commercial video solutions, including any surprising utilization trends, notable pockets of strength, and factors supporting growth in this segment.

Answer

CEO Steve Trundle highlighted strengths in high-crime, high-asset areas and the significant driver of central station augmented remote video monitoring for crime deterrence. He also noted an uptick in international commercial asset deployment, particularly in Latin America. Regarding spending, Steve Trundle stated that R&D as a percentage of revenue is stable, with a focus on productivity and a near-term surge in capacity to absorb the new EnergyHub platform and integrate AI advancements.

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Fintool

Fintool can predict Alarm.com Holdings logo ALRM's earnings beat/miss a week before the call

Steven Sheldon's questions to JONES LANG LASALLE (JLL) leadership

Question · Q4 2025

Steven Sheldon from William Blair asked about JLL's competitive advantages and 'moat' against AI-focused startups, considering the company's proactive investments in AI and data. He also inquired about the underlying dynamics in office leasing, specifically factors contributing to higher average deal sizes, property types being leased, and trends in average lease duration.

Answer

President and CEO Christian Ulbrich emphasized JLL's strong position in AI, citing early and heavy investments in its data platform and proprietary data, which is difficult for competitors to replicate and enables superior client outcomes. CFO Kelly Howe elaborated on office leasing, noting strong performance driven by a recovery in large deals (over 100,000 sq ft), a 'flight to quality,' and increasing return-to-work mandates, with average lease durations now at 8 years and rents up 4% in the fourth quarter.

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Fintool

Fintool can predict JONES LANG LASALLE logo JLL's earnings beat/miss a week before the call

Steven Sheldon's questions to McGraw Hill (MH) leadership

Question · Q2 2026

Steven Sheldon inquired about McGraw Hill's incremental spending plans, asking if priorities have shifted and where investment is being accelerated across product development and sales capacity.

Answer

Bob Sallmann, EVP and CFO, stated that the overall investment level remains consistent at 8-9% of revenue. However, efficiencies in product development allow for accelerated investment in new AI tools, leading to a faster pace of new product releases, such as the four recently launched AI-powered solutions. He reiterated that this innovation is expected to contribute to continued margin expansion.

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Fintool can predict McGraw Hill logo MH's earnings beat/miss a week before the call