Northern Trust Corp Grows Position in Aeva Technologies, Inc. (NASDAQ:AEVA)

Northern Trust Corp boosted its position in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,287 shares of the company’s stock after purchasing an additional 9,984 shares during the period. Northern Trust Corp’s holdings in Aeva Technologies were worth $989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEVA. LPL Financial LLC purchased a new position in shares of Aeva Technologies during the fourth quarter valued at approximately $451,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Aeva Technologies by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock worth $1,151,000 after buying an additional 30,924 shares during the period. XTX Topco Ltd bought a new stake in shares of Aeva Technologies during the 4th quarter worth approximately $90,000. Marshall Wace LLP purchased a new position in Aeva Technologies during the 4th quarter valued at $88,000. Finally, SBI Securities Co. Ltd. bought a new position in Aeva Technologies in the 4th quarter valued at $88,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

Aeva Technologies Stock Performance

NASDAQ:AEVA opened at $17.32 on Friday. The firm has a 50-day simple moving average of $9.63 and a 200-day simple moving average of $6.00. Aeva Technologies, Inc. has a one year low of $2.20 and a one year high of $18.74. The firm has a market cap of $953.00 million, a P/E ratio of -5.61 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AEVA. Roth Capital increased their target price on Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley raised their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Oppenheimer lifted their price objective on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group upped their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Aeva Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

Insider Activity at Aeva Technologies

In related news, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the sale, the chief executive officer now owns 3,764,808 shares of the company’s stock, valued at $20,179,370.88. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mina Rezk sold 70,000 shares of Aeva Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.79, for a total value of $195,300.00. Following the completion of the transaction, the chief technology officer now owns 8,696,669 shares in the company, valued at $24,263,706.51. This trade represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 4,213,506 shares of company stock valued at $24,985,345 and have sold 1,137,228 shares valued at $11,745,419. 27.20% of the stock is currently owned by corporate insiders.

Aeva Technologies Company Profile

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.