Tpg Gp A LLC bought a new position in BETA Technologies Inc (NYSE:BETA – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 16,395,435 shares of the company’s stock, valued at approximately $462,515,000. BETA Technologies makes up approximately 17.2% of Tpg Gp A LLC’s investment portfolio, making the stock its 3rd biggest position. Tpg Gp A LLC owned about 0.07% of BETA Technologies as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Verition Fund Management LLC purchased a new position in BETA Technologies in the 4th quarter worth approximately $6,188,000. Next Century Growth Investors LLC purchased a new stake in shares of BETA Technologies during the 4th quarter valued at approximately $2,667,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of BETA Technologies during the 4th quarter valued at approximately $13,550,000. Kestra Advisory Services LLC purchased a new stake in shares of BETA Technologies during the 4th quarter valued at approximately $70,000. Finally, Marshall Wace LLP purchased a new stake in shares of BETA Technologies during the 4th quarter valued at approximately $10,657,000.
Insider Transactions at BETA Technologies
In related news, CTO David Lawrence Churchill sold 18,981 shares of BETA Technologies stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $343,935.72. Following the completion of the sale, the chief technology officer owned 552,647 shares in the company, valued at approximately $10,013,963.64. This trade represents a 3.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Robert Stone bought 17,135 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $14.59 per share, with a total value of $249,999.65. Following the acquisition, the director directly owned 1,767,049 shares in the company, valued at $25,781,244.91. The trade was a 0.98% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 138,928 shares of company stock worth $2,517,375 in the last three months. Company insiders own 24.47% of the company’s stock.
BETA Technologies Price Performance
BETA Technologies (NYSE:BETA – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. BETA Technologies’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that BETA Technologies Inc will post -2.13 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. BTIG Research reduced their price target on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. The Goldman Sachs Group reduced their price target on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Morgan Stanley reduced their price target on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group reduced their price target on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BETA Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $31.11.
Read Our Latest Stock Report on BETA Technologies
About BETA Technologies
BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.
Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.
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