Rockefeller Capital Management L.P. Purchases New Shares in Archer Aviation Inc. (NYSE:ACHR)

Rockefeller Capital Management L.P. bought a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 454,237 shares of the company's stock, valued at approximately $4,429,000. Rockefeller Capital Management L.P. owned 0.11% of Archer Aviation as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Barclays PLC increased its stake in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after buying an additional 312,440 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after purchasing an additional 446,864 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after buying an additional 36,840 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after buying an additional 6,371,647 shares during the last quarter. Finally, Yarbrough Capital LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth $6,039,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $352,028.16. Following the sale, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. This represents a 52.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock valued at $3,158,081 over the last 90 days. 9.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Needham & Company LLC raised their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. HC Wainwright restated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Finally, Raymond James increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Archer Aviation presently has an average rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Trading Up 2.5 %

Shares of Archer Aviation stock traded up $0.18 during trading on Friday, hitting $7.23. 20,961,056 shares of the company were exchanged, compared to its average volume of 20,546,380. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market capitalization of $3.92 billion, a P/E ratio of -5.47 and a beta of 3.16. The firm's fifty day moving average price is $7.98 and its 200 day moving average price is $7.24. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Archer Aviation Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.