Geode Capital Management LLC Increases Stake in Aeva Technologies, Inc. (NYSE:AEVA)

Geode Capital Management LLC grew its position in shares of Aeva Technologies, Inc. (NYSE:AEVA) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 621,191 shares of the company’s stock after buying an additional 9,318 shares during the quarter. Geode Capital Management LLC owned 1.15% of Aeva Technologies worth $2,951,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. PFG Investments LLC purchased a new position in Aeva Technologies during the 4th quarter worth $48,000. Intech Investment Management LLC purchased a new position in shares of Aeva Technologies in the 4th quarter valued at about $52,000. SBI Securities Co. Ltd. purchased a new position in shares of Aeva Technologies in the 4th quarter valued at about $88,000. American Century Companies Inc. increased its holdings in shares of Aeva Technologies by 34.9% in the 4th quarter. American Century Companies Inc. now owns 25,689 shares of the company’s stock valued at $122,000 after purchasing an additional 6,640 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Aeva Technologies by 276.4% in the 3rd quarter. Barclays PLC now owns 29,910 shares of the company’s stock valued at $98,000 after purchasing an additional 21,964 shares in the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AEVA. Oppenheimer increased their price target on shares of Aeva Technologies from $6.00 to $9.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Canaccord Genuity Group began coverage on shares of Aeva Technologies in a report on Tuesday, April 1st. They issued a “buy” rating and a $9.50 price target for the company. Finally, Morgan Stanley increased their price target on shares of Aeva Technologies from $4.87 to $5.22 and gave the company an “equal weight” rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.14.

Aeva Technologies Price Performance

Aeva Technologies stock opened at $7.18 on Tuesday. Aeva Technologies, Inc. has a 12-month low of $2.20 and a 12-month high of $8.12. The stock has a market capitalization of $392.85 million, a P/E ratio of -2.32 and a beta of 1.03. The firm’s 50-day moving average is $5.25 and its two-hundred day moving average is $4.60.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $2.79, for a total transaction of $195,300.00. Following the completion of the transaction, the chief technology officer now owns 8,696,669 shares of the company’s stock, valued at approximately $24,263,706.51. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc purchased 990,411 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was bought at an average price of $4.36 per share, for a total transaction of $4,318,191.96. Following the acquisition, the insider now owns 11,369,715 shares in the company, valued at $49,571,957.40. The trade was a 9.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,213,506 shares of company stock valued at $24,985,345 and have sold 527,079 shares valued at $3,000,979. 29.10% of the stock is owned by corporate insiders.

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.