Insider Buying: Aeva Technologies, Inc. (NYSE:AEVA) Major Shareholder Buys $8,932,359.60 in Stock

Aeva Technologies, Inc. (NYSE:AEVA) major shareholder Sylebra Capital Llc purchased 1,333,188 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average price of $6.70 per share, for a total transaction of $8,932,359.60. Following the acquisition, the insider now owns 15,160,256 shares in the company, valued at $101,573,715.20. This trade represents a 9.64 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Monday, March 31st, Sylebra Capital Llc acquired 1,068,297 shares of Aeva Technologies stock. The stock was acquired at an average cost of $6.77 per share, for a total transaction of $7,232,370.69.
• On Wednesday, March 26th, Sylebra Capital Llc bought 821,610 shares of Aeva Technologies stock. The shares were acquired at an average price of $5.48 per share, with a total value of $4,502,422.80.
• On Monday, March 24th, Sylebra Capital Llc purchased 990,411 shares of Aeva Technologies stock. The shares were bought at an average cost of $4.36 per share, for a total transaction of $4,318,191.96.

Aeva Technologies Price Performance

Shares of AEVA stock opened at $7.17 on Thursday. Aeva Technologies, Inc. has a 1-year low of $2.20 and a 1-year high of $7.53. The company has a market cap of $392.30 million, a price-to-earnings ratio of -2.32 and a beta of 1.41. The stock has a 50 day simple moving average of $4.12 and a 200-day simple moving average of $4.07.

Analysts Set New Price Targets

A number of brokerages have recently commented on AEVA. Morgan Stanley upped their target price on Aeva Technologies from $4.87 to $5.22 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Canaccord Genuity Group began coverage on shares of Aeva Technologies in a research note on Tuesday. They set a “buy” rating and a $9.50 price objective on the stock. Finally, Oppenheimer boosted their target price on shares of Aeva Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.54.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEVA. Rhumbline Advisers grew its position in shares of Aeva Technologies by 13.2% in the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock valued at $255,000 after purchasing an additional 6,238 shares during the period. Barclays PLC boosted its holdings in Aeva Technologies by 276.4% in the 3rd 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. increased its stake in 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 buying an additional 8,007 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Aeva Technologies by 14.2% during the third 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 lifted its position in shares of Aeva Technologies by 5.5% in the third 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. Hedge funds and other institutional investors own 62.92% of the company’s stock.

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.