Clare Market Investments LLC Sells 7,722 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Clare Market Investments LLC cut its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 78.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,094 shares of the aerospace company's stock after selling 7,722 shares during the period. Clare Market Investments LLC's holdings in AeroVironment were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AVAV. CoreCap Advisors LLC increased its position in shares of AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 101 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in AeroVironment by 171.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock worth $29,000 after purchasing an additional 154 shares during the last quarter. Golden State Wealth Management LLC bought a new position in AeroVironment in the 4th quarter valued at $31,000. Colonial Trust Advisors purchased a new stake in shares of AeroVironment during the 4th quarter valued at $31,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of AeroVironment during the 4th quarter valued at $31,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVAV shares. Robert W. Baird boosted their price target on shares of AeroVironment from $146.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday. Jefferies Financial Group lowered their price target on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective for the company in a report on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $190.00 target price on shares of AeroVironment in a research report on Monday, May 12th. Finally, William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $208.50.

Insider Activity

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction that occurred 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 directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.27% of the stock is owned by company insiders.

AeroVironment Stock Performance

AeroVironment stock traded up $4.30 during mid-day trading on Friday, reaching $190.89. The company's stock had a trading volume of 1,129,062 shares, compared to its average volume of 432,129. The firm's fifty day moving average price is $154.16 and its two-hundred day moving average price is $158.21. 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, Inc. has a 12-month low of $102.25 and a 12-month high of $236.60. The company has a market capitalization of $5.39 billion, a P/E ratio of 109.71 and a beta of 0.81.

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.