111,498 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 111,498 shares of the aerospace company's stock, valued at approximately $17,158,000. Point72 Asset Management L.P. owned approximately 0.40% of AeroVironment at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AVAV. Franklin Resources Inc. grew its stake in AeroVironment by 299.4% during the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company's stock worth $1,037,000 after purchasing an additional 3,614 shares during the period. Congress Asset Management Co. increased its stake in shares of AeroVironment by 10.9% in the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company's stock valued at $51,275,000 after acquiring an additional 32,663 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of AeroVironment during the 4th quarter valued at $404,000. JPMorgan Chase & Co. boosted its stake in AeroVironment by 415.7% during the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock worth $30,620,000 after acquiring an additional 160,390 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in AeroVironment by 63.0% in the fourth quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company's stock worth $33,518,000 after purchasing an additional 84,170 shares during the period. 86.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $190.00 price objective on shares of AeroVironment in a report on Monday, May 12th. Wall Street Zen lowered AeroVironment from a "hold" rating to a "sell" rating in a research report on Thursday. Robert W. Baird dropped their price target on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. William Blair reissued an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price objective on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $197.83.

AeroVironment Stock Up 0.0%

AVAV traded up $0.03 during midday trading on Friday, reaching $167.67. 49,703 shares of the company were exchanged, compared to its average volume of 413,744. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 96.36 and a beta of 0.80. AeroVironment, Inc. has a one year low of $102.25 and a one year high of $236.60. The company's fifty day moving average price is $143.60 and its 200 day moving average price is $160.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

Insider Activity at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value 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 $14,765,306.80. This represents a 20.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.27% of the stock is owned by insiders.

AeroVironment Company 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.