Aeva Technologies, Inc. $AEVA Shares Sold by Canaan Partners XI LLC

Key Points

• Canaan Partners XI LLC reduced its holdings in Aeva Technologies by 2.7%, now owning 3,597,039 shares, which constitutes about 79.1% of its investment portfolio.
• Insider trading was notable as CTO Mina Rezk sold 250,000 shares for approximately $3.37 million, decreasing their ownership by 7.17%, while CFO Saurabh Sinha sold 160,000 shares for about $2.13 million.
• Analysts have mixed views on Aeva, with price targets varying significantly; Roth Capital raised its target to $30 while Wall Street Zen downgraded the stock to a "sell" rating.

Canaan Partners XI LLC lessened its holdings in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,597,039 shares of the company's stock after selling 100,000 shares during the period. Aeva Technologies accounts for about 79.1% of Canaan Partners XI LLC's investment portfolio, making the stock its biggest holding. Canaan Partners XI LLC owned approximately 6.54% of Aeva Technologies worth $135,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after acquiring an additional 415 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after buying an additional 5,469 shares during the last quarter. Perennial Advisors LLC bought a new stake in Aeva Technologies during the second quarter worth about $227,000. Squarepoint Ops LLC bought a new stake in Aeva Technologies during the fourth quarter worth about $54,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 250,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $13.48, for a total value of $3,370,000.00. Following the completion of the transaction, the chief technology officer owned 3,236,669 shares of the company's stock, valued at approximately $43,630,298.12. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 160,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $13.33, for a total transaction of $2,132,800.00. Following the completion of the transaction, the chief financial officer directly owned 810,710 shares of the company's stock, valued at approximately $10,806,764.30. This trade represents a 16.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 808,699 shares of company stock valued at $13,646,491. Corporate insiders own 27.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AEVA. Roth Capital increased their price target on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Oppenheimer increased their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wall Street Zen cut shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, September 20th. Finally, Morgan Stanley raised their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Aeva Technologies Stock Down 1.0%

Shares of NASDAQ:AEVA opened at $15.00 on Tuesday. Aeva Technologies, Inc. has a 12 month low of $2.52 and a 12 month high of $38.80. The company's fifty day simple moving average is $16.02 and its 200 day simple moving average is $16.12. The firm has a market cap of $844.95 million, a price-to-earnings ratio of -2.73 and a beta of 2.00.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The business had revenue of $5.51 million during the quarter, compared to the consensus estimate of $3.40 million. Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. Research analysts expect that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

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.

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