AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 42.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,773 shares of the aerospace company's stock after selling 7,316 shares during the period. Comerica Bank's holdings in AeroVironment were worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its stake in AeroVironment by 11.9% in the fourth quarter. Northern Trust Corp now owns 299,588 shares of the aerospace company's stock worth $46,104,000 after purchasing an additional 31,789 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in shares of AeroVironment in the fourth quarter worth approximately $340,000. Oberweis Asset Management Inc. lifted its stake in shares of AeroVironment by 10.8% during the 4th quarter. Oberweis Asset Management Inc. now owns 102,720 shares of the aerospace company's stock worth $15,808,000 after acquiring an additional 9,980 shares during the last quarter. Voya Investment Management LLC boosted its holdings in AeroVironment by 1,159.0% during the 4th quarter. Voya Investment Management LLC now owns 140,598 shares of the aerospace company's stock valued at $21,637,000 after acquiring an additional 129,431 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in AeroVironment by 8.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,321 shares of the aerospace company's stock valued at $3,128,000 after acquiring an additional 1,498 shares during the last quarter. Institutional investors own 86.38% of the company's stock.

Wall Street Analysts Forecast Growth

AVAV has been the topic of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $190.00 price target on shares of AeroVironment in a report on Monday. William Blair restated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price target on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Robert W. Baird lowered their price target on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Finally, Raymond James upgraded AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective on the stock in a report on Tuesday, April 8th. Six equities research 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.com, the stock has a consensus rating of "Buy" and an average target price of $197.83.

Insider Activity at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.27% of the stock is owned by corporate insiders.

AeroVironment Stock Down 1.7%

AeroVironment stock traded down $2.78 during mid-day trading on Wednesday, reaching $163.82. 343,797 shares of the company were exchanged, compared to its average volume of 411,669. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $236.60. The business has a fifty day moving average of $138.05 and a 200 day moving average of $162.98. The firm has a market cap of $4.62 billion, a P/E ratio of 94.15 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

AeroVironment Profile

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.