Axxcess Wealth Management LLC Reduces Position in AeroVironment, Inc. $AVAV

Key Points

• Axxcess Wealth Management LLC reduced its position in AeroVironment, Inc. (AVAV) by 63.6%, owning only 1,000 shares after selling 1,750 during the second quarter.
• Analysts have established a consensus buy rating for AeroVironment, with price targets increased by firms such as Stifel Nicolaus and BTIG Research, now ranging from $389.00 to $415.00.
• AeroVironment's stock has seen a 6.3% decline, with a current market cap of $17.50 billion and a recent earnings report showing EPS of $0.12.

Axxcess Wealth Management LLC lessened its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 63.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the aerospace company's stock after selling 1,750 shares during the quarter. Axxcess Wealth Management LLC's holdings in AeroVironment were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in AeroVironment by 21.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company's stock worth $68,000 after buying an additional 42 shares during the last quarter. ORG Partners LLC grew its stake in shares of AeroVironment by 296.0% in the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock valued at $27,000 after purchasing an additional 74 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of AeroVironment by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 3,199 shares of the aerospace company's stock valued at $381,000 after purchasing an additional 83 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of AeroVironment by 5.2% in the 1st quarter. Mackenzie Financial Corp now owns 1,685 shares of the aerospace company's stock valued at $201,000 after purchasing an additional 84 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new position in shares of AeroVironment in the 2nd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 86.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on AeroVironment from $295.00 to $389.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. BTIG Research lifted their target price on AeroVironment from $300.00 to $415.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Wedbush upgraded AeroVironment to an "outperform" rating in a research note on Wednesday, June 25th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a research note on Tuesday, September 16th. Finally, Zacks Research downgraded AeroVironment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $356.07.

Insider Buying and Selling at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 998 shares of AeroVironment stock in a transaction on Friday, October 10th. The stock was sold at an average price of $399.74, for a total transaction of $398,940.52. Following the completion of the transaction, the chief financial officer directly owned 19,324 shares of the company's stock, valued at approximately $7,724,575.76. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the transaction, the insider directly owned 4,907 shares of the company's stock, valued at approximately $1,869,567. This represents a 25.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.

AeroVironment Stock Down 6.3%

AeroVironment stock opened at $350.59 on Friday. The stock's 50 day moving average price is $289.71 and its 200 day moving average price is $229.45. The company has a market cap of $17.50 billion, a PE ratio of -547.79, a price-to-earnings-growth ratio of 5.95 and a beta of 0.99. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.96 and a quick ratio of 5.12.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $132.62 million during the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%. On average, sell-side analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

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.

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