Bank of America Corp DE Grows Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Bank of America Corp DE boosted its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 17.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,272 shares of the aerospace company's stock after buying an additional 6,589 shares during the quarter. Bank of America Corp DE owned approximately 0.16% of AeroVironment worth $6,967,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in AeroVironment by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,098,822 shares of the aerospace company's stock valued at $476,878,000 after acquiring an additional 35,543 shares in the last quarter. Baillie Gifford & Co. boosted its stake in AeroVironment by 9.4% in the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock valued at $328,598,000 after acquiring an additional 183,887 shares in the last quarter. Geode Capital Management LLC boosted its stake in AeroVironment by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock valued at $100,670,000 after acquiring an additional 19,835 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in AeroVironment in the fourth quarter valued at approximately $93,759,000. Finally, Stephens Investment Management Group LLC lifted its stake in shares of AeroVironment by 40.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company's stock worth $83,338,000 after buying an additional 154,703 shares during the period. 86.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction on 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.27% of the stock is owned by corporate insiders.

AeroVironment Stock Performance

Shares of AeroVironment stock traded down $3.89 during trading on Thursday, hitting $172.49. 296,877 shares of the company's stock were exchanged, compared to its average volume of 417,577. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The business has a 50-day simple moving average of $147.44 and a 200-day simple moving average of $159.50. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 99.13 and a beta of 0.80.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVAV. Robert W. Baird lowered 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. Wall Street Zen downgraded shares of AeroVironment from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. William Blair reiterated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Jefferies Financial Group lowered their price objective 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $190.00 price objective on shares of AeroVironment in a research note on Monday, May 12th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $197.83.

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.