Edgestream Partners L.P. Purchases New Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Edgestream Partners L.P. acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,433 shares of the aerospace company's stock, valued at approximately $3,627,000. Edgestream Partners L.P. owned about 0.11% of AeroVironment as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC boosted its stake in shares of AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 101 shares during the last quarter. Colonial Trust Advisors bought a new stake in shares of AeroVironment in the 4th quarter valued at $31,000. Accredited Wealth Management LLC bought a new stake in shares of AeroVironment in the 4th quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of AeroVironment by 171.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 154 shares during the last quarter. Finally, Spirit of America Management Corp NY bought a new stake in shares of AeroVironment in the 1st quarter valued at $36,000. 86.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVAV. Stifel Nicolaus began coverage on shares of AeroVironment in a research report on Tuesday, June 24th. They set a "buy" rating and a $240.00 target price on the stock. Raymond James Financial set a $225.00 target price on shares of AeroVironment and gave the company a "strong-buy" rating in a research report on Wednesday, June 25th. Oppenheimer reiterated an "outperform" rating on shares of AeroVironment in a research report on Sunday, June 29th. BTIG Research boosted their target price on shares of AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, Robert W. Baird boosted their target price on shares of AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $268.00.

AeroVironment Stock Down 1.6%

AVAV traded down $4.53 during trading on Friday, hitting $274.03. 1,246,929 shares of the company's stock were exchanged, compared to its average volume of 625,025. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $205.39 and its two-hundred day moving average is $169.33. AeroVironment, Inc. has a fifty-two week low of $102.25 and a fifty-two week high of $295.90. The stock has a market cap of $13.52 billion, a P/E ratio of 176.79 and a beta of 0.96.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The firm had revenue of $275.05 million during the quarter, compared to analyst estimates of $242.69 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business's revenue was up 39.6% compared to the same quarter last year. As a group, equities analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Insider Activity

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

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.