Ameriprise Financial Inc. Trims Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Ameriprise Financial Inc. lowered its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 66.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,777 shares of the aerospace company's stock after selling 220,147 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.40% of AeroVironment worth $17,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of AeroVironment during the fourth quarter worth about $31,000. Colonial Trust Advisors acquired a new stake in shares of AeroVironment during the fourth quarter worth about $31,000. Accredited Wealth Management LLC acquired a new stake in shares of AeroVironment during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB boosted its stake in shares of AeroVironment by 1,515.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock worth $32,000 after buying an additional 197 shares during the period. Finally, Bogart Wealth LLC acquired a new stake in shares of AeroVironment during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 86.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVAV. Royal Bank of Canada reiterated an "outperform" rating and issued a $190.00 price objective on shares of AeroVironment in a research report on Monday, May 12th. Raymond James upgraded shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Robert W. Baird dropped their target price on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $197.83.

Insider Activity

In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $14,765,306.80. The trade was a 20.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.27% of the company's stock.

AeroVironment Price Performance

Shares of AVAV traded down $2.97 during trading hours on Monday, reaching $161.12. The company had a trading volume of 337,432 shares, compared to its average volume of 412,380. The firm has a 50 day simple moving average of $141.11 and a 200-day simple moving average of $161.07. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 92.60 and a beta of 0.80. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $236.60.

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.