Insider Buying: Aeva Technologies, Inc. (NYSE:AEVA) Major Shareholder Acquires 990,411 Shares of Stock

Aeva Technologies, Inc. (NYSE:AEVA) major shareholder Sylebra Capital Llc acquired 990,411 shares of Aeva Technologies stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $4.36 per share, with a total value of $4,318,191.96. Following the completion of the purchase, the insider now owns 11,369,715 shares in the company, valued at approximately $49,571,957.40. This represents a 9.54 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Sylebra Capital Llc also recently made the following trade(s):

• On Wednesday, March 26th, Sylebra Capital Llc bought 821,610 shares of Aeva Technologies stock. The stock was acquired at an average price of $5.48 per share, for a total transaction of $4,502,422.80.

Aeva Technologies Stock Performance

Shares of AEVA opened at $6.71 on Friday. The firm has a market cap of $361.55 million, a PE ratio of -2.17 and a beta of 1.41. The firm’s 50 day moving average price is $3.96 and its 200 day moving average price is $3.97. Aeva Technologies, Inc. has a twelve month low of $2.20 and a twelve month high of $7.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AEVA. Rhumbline Advisers boosted its holdings in Aeva Technologies by 13.2% in the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock worth $255,000 after purchasing an additional 6,238 shares in the last quarter. Barclays PLC lifted its position in shares of Aeva Technologies by 276.4% in the third quarter. Barclays PLC now owns 29,910 shares of the company’s stock worth $98,000 after buying an additional 21,964 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Aeva Technologies by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 211,452 shares of the company’s stock worth $696,000 after acquiring an additional 8,007 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Aeva Technologies by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 611,873 shares of the company’s stock valued at $2,013,000 after acquiring an additional 76,044 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Aeva Technologies by 5.5% in the 3rd quarter. State Street Corp now owns 452,309 shares of the company’s stock valued at $1,488,000 after acquiring an additional 23,593 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Aeva Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, March 20th. Morgan Stanley upped their price target on shares of Aeva Technologies from $4.87 to $5.22 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Aeva Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.81.

About Aeva Technologies

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.