De Lima Filho Pedro Batista Sells 460,000 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Key Points

• Director De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power (NYSE:AXIA) at an average price of $10.16, bringing in about $4.67 million. After the sale, he still held 4.63 million shares, though the transaction reduced his position by 9.04%.
• The director has been actively selling shares in recent weeks, with multiple large insider transactions in June and late May, alongside a few smaller purchases. The pattern suggests significant insider trading activity around the stock.
• AXIA rose 3.7% to $10.35 in Monday trading, while analysts currently rate the stock an average of Hold. The company has a market cap of $23.28 billion and institutional investors own 2.64% of shares.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 460,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $10.16, for a total value of $4,673,600.00. Following the completion of the transaction, the director owned 4,630,163 shares in the company, valued at approximately $47,042,456.08. The trade was a 9.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

De Lima Filho Pedro Batista also recently made the following trade(s):

• On Monday, June 15th, De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.13, for a total transaction of $6,052,675.00.
• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $9.59, for a total transaction of $289,618.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista sold 400,000 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.90, for a total transaction of $3,960,000.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista purchased 45,000 shares of Brazilian Electric Power stock. The stock was acquired at an average cost of $10.60 per share, for a total transaction of $477,000.00.
• On Monday, June 1st, De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.88, for a total value of $5,486,364.00.
• On Friday, May 29th, De Lima Filho Pedro Batista sold 2,249,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.43, for a total value of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista bought 1,234,900 shares of Brazilian Electric Power stock. The stock was bought at an average price of $10.78 per share, for a total transaction of $13,312,222.00.
• On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.46, for a total value of $2,450,778.00.
• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.40, for a total value of $7,430,800.00.
• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.60, for a total value of $9,979,900.00.

Brazilian Electric Power Trading Up 3.7%

Brazilian Electric Power stock traded up $0.36 during trading on Monday, hitting $10.35. 739,017 shares of the company were exchanged, compared to its average volume of 2,306,658. The company has a market capitalization of $23.28 billion, a P/E ratio of 57.49, a P/E/G ratio of 1.44 and a beta of 0.46. The firm has a 50 day simple moving average of $11.37. Brazilian Electric Power Co has a 52 week low of $6.71 and a 52 week high of $13.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXIA. Weiss Ratings initiated coverage on shares of Brazilian Electric Power in a report on Tuesday, April 7th. They issued a "hold (c)" rating for the company. Wall Street Zen raised shares of Brazilian Electric Power from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AXIA. Traveka Wealth LLC bought a new stake in Brazilian Electric Power in the 1st quarter valued at about $118,000. Sequoia Financial Advisors LLC boosted its position in Brazilian Electric Power by 4.5% during the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock worth $210,000 after purchasing an additional 802 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brazilian Electric Power by 1.8% in the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company's stock worth $1,007,000 after purchasing an additional 1,559 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock valued at $248,000 after purchasing an additional 4,834 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Brazilian Electric Power in the first quarter valued at approximately $150,000. Institutional investors own 2.64% of the company's stock.

Brazilian Electric Power Company Profile

Centrais Elétricas Brasileiras SA - Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2020, it owned and operated 31 hydroelectric plants with a total installed capacity of 50,648 megawatts; seven thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,595 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.

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