Amazon Com Inc. Makes New $331.58 Million Investment in BETA Technologies Inc $BETA

Amazon Com Inc. bought a new position in shares of BETA Technologies Inc (NYSE:BETA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,753,896 shares of the company’s stock, valued at approximately $331,577,000. BETA Technologies accounts for 9.4% of Amazon Com Inc.’s holdings, making the stock its 2nd biggest holding. Amazon Com Inc. owned 5.33% of BETA Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BETA. General Electric Co acquired a new position in BETA Technologies during the fourth quarter worth about $644,962,000. Vanguard Group Inc. acquired a new position in BETA Technologies during the fourth quarter worth about $77,089,000. Norges Bank acquired a new position in BETA Technologies during the fourth quarter worth about $41,485,000. Liberty Street Advisors Inc. acquired a new position in BETA Technologies during the fourth quarter worth about $28,187,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of BETA Technologies in the fourth quarter valued at about $10,896,000.

BETA Technologies Stock Performance

NYSE:BETA opened at $18.23 on Thursday. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.05 billion and a P/E ratio of -1.47. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The firm’s 50 day moving average is $16.46 and its two-hundred day moving average is $21.34.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that BETA Technologies Inc will post -2.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on BETA shares. Citigroup reduced their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. 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 report on Tuesday, March 10th. Finally, UBS Group set a $24.00 price target on shares of BETA Technologies and gave the company a “buy” rating in a report on Monday, February 9th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.11.

Insider Activity at BETA Technologies

In related news, Director Michael Robert Stone purchased 17,135 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $14.59 per share, with a total value of $249,999.65. Following the completion of the purchase, the director directly owned 1,767,049 shares in the company, valued at approximately $25,781,244.91. This trade represents a 0.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Sean Donovan sold 19,008 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $344,424.96. Following the transaction, the chief operating officer directly owned 176,195 shares in the company, valued at approximately $3,192,653.40. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 138,928 shares of company stock valued at $2,517,375 over the last 90 days. 24.47% of the stock is currently owned by insiders.

BETA Technologies Company Profile

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.