Envestnet Asset Management Inc. Boosts Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Envestnet Asset Management Inc. boosted its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 121.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,846 shares of the aerospace company's stock after buying an additional 22,393 shares during the period. Envestnet Asset Management Inc. owned 0.14% of AeroVironment worth $6,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVAV. Modus Advisors LLC purchased a new stake in AeroVironment during the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC bought a new stake in AeroVironment in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its stake in AeroVironment by 1,515.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock worth $32,000 after purchasing an additional 197 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of AeroVironment during the 4th quarter valued at about $38,000. Finally, Blue Trust Inc. grew its position in shares of AeroVironment by 2,950.0% during the fourth quarter. Blue Trust Inc. now owns 305 shares of the aerospace company's stock valued at $47,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 86.38% of the company's stock.

Insider Buying and Selling

In other news, CEO Wahid Nawabi sold 29,366 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the sale, the chief executive officer now owns 115,174 shares of the company's stock, valued at $14,765,306.80. This represents a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.27% of the company's stock.

AeroVironment Price Performance

Shares of AVAV stock traded up $0.64 during mid-day trading on Friday, hitting $149.59. 306,960 shares of the stock were exchanged, compared to its average volume of 413,239. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60. The firm has a fifty day moving average of $135.45 and a 200 day moving average of $167.95. The company has a market cap of $4.22 billion, a PE ratio of 85.97 and a beta of 0.74.

Analyst Ratings Changes

A number of brokerages recently commented on AVAV. Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target for the company in a research note on Tuesday, April 8th. Jefferies Financial Group cut their target price on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Robert W. Baird dropped their price objective on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $202.00.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.