Congress Asset Management Co. Raises Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Congress Asset Management Co. lifted its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 9.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 363,316 shares of the aerospace company's stock after buying an additional 30,123 shares during the quarter. Congress Asset Management Co. owned approximately 1.29% of AeroVironment worth $43,304,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AVAV. Blue Trust Inc. increased its position in AeroVironment by 3,080.0% during the fourth quarter. Blue Trust Inc. now owns 318 shares of the aerospace company's stock valued at $49,000 after acquiring an additional 308 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of AeroVironment during the fourth quarter valued at about $333,000. Golden State Wealth Management LLC purchased a new stake in shares of AeroVironment during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB increased its holdings in shares of AeroVironment by 1,515.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock valued at $32,000 after acquiring an additional 197 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings 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 valued at $83,338,000 after acquiring an additional 154,703 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.

AeroVironment Price Performance

AVAV stock opened at $190.89 on Friday. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year high of $236.60. The stock has a 50-day simple moving average of $155.54 and a 200-day simple moving average of $157.90. 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 firm has a market cap of $5.39 billion, a P/E ratio of 109.71 and a beta of 0.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Wall Street Zen upgraded AeroVironment from a "sell" rating to a "hold" rating in a report on Friday. William Blair restated an "outperform" rating on shares of AeroVironment 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 target price for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird lifted their target price on AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $208.50.

Insider Transactions at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the sale, the chief executive officer now owns 115,174 shares of the company's stock, valued at $14,765,306.80. The trade was a 20.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.27% of the company's stock.

About AeroVironment

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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