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Public Sector Pension Investment Board Grows Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

AeroVironment logo with Aerospace background

Key Points

  • The Public Sector Pension Investment Board increased its stake in AeroVironment, Inc. by 27.4% during the first quarter, owning approximately 0.31% of the company valued at $10.59 million.
  • AeroVironment's recent earnings report revealed earnings of $1.61 per share, exceeding estimates, with a 39.6% year-over-year revenue increase.
  • Analysts have a consensus rating of "Buy" for AeroVironment, with price targets ranging from $240 to $325.
  • Looking to export and analyze AeroVironment data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Public Sector Pension Investment Board grew its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 27.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,847 shares of the aerospace company's stock after acquiring an additional 19,089 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of AeroVironment worth $10,590,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new stake in shares of AeroVironment during the fourth quarter valued at approximately $93,759,000. Stephens Investment Management Group LLC boosted its stake in shares of AeroVironment by 41.0% during the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock valued at $91,000,000 after purchasing an additional 221,948 shares during the period. Nuveen LLC purchased a new stake in shares of AeroVironment during the first quarter valued at approximately $23,501,000. Voya Investment Management LLC boosted its stake in shares of AeroVironment by 1,159.0% during the fourth quarter. Voya Investment Management LLC now owns 140,598 shares of the aerospace company's stock valued at $21,637,000 after purchasing an additional 129,431 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of AeroVironment during the fourth quarter valued at approximately $17,158,000. 86.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the transaction, the chief executive officer directly owned 122,233 shares of the company's stock, valued at $32,153,390.65. This trade represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVAV shares. Canaccord Genuity Group initiated coverage on AeroVironment in a research note on Monday. They set a "buy" rating and a $305.00 price objective for the company. Raymond James Financial set a $225.00 price objective on AeroVironment and gave the company a "strong-buy" rating in a research report on Wednesday, June 25th. JMP Securities started coverage on AeroVironment in a research note on Monday, August 4th. They set a "market outperform" rating and a $325.00 price target for the company. Wedbush upgraded AeroVironment to an "outperform" rating in a research note on Wednesday, June 25th. Finally, BTIG Research boosted their price objective on AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $285.33.

Read Our Latest Research Report on AeroVironment

AeroVironment Trading Down 1.2%

NASDAQ:AVAV traded down $3.08 during midday trading on Friday, hitting $246.65. 670,967 shares of the company traded hands, compared to its average volume of 835,636. The firm's fifty day moving average is $241.92 and its 200-day moving average is $182.63. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $295.90. The firm has a market capitalization of $12.17 billion, a P/E ratio of 159.13 and a beta of 0.99. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $275.05 million for the quarter, compared to the consensus estimate of $242.69 million. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. AeroVironment's quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. On average, sell-side analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current year.

AeroVironment Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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