GAMMA Investing LLC Raises Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

GAMMA Investing LLC boosted its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 17,752.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,692 shares of the aerospace company's stock after buying an additional 80,240 shares during the quarter. GAMMA Investing LLC owned approximately 0.29% of AeroVironment worth $9,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AeroVironment by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,098,822 shares of the aerospace company's stock valued at $476,878,000 after purchasing an additional 35,543 shares during the period. Baillie Gifford & Co. raised its stake in AeroVironment by 9.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock worth $328,598,000 after purchasing an additional 183,887 shares during the period. Geode Capital Management LLC raised its stake in shares of AeroVironment by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock valued at $100,670,000 after acquiring an additional 19,835 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of AeroVironment in the 4th quarter valued at approximately $93,759,000. Finally, Stephens Investment Management Group LLC raised its stake in shares of AeroVironment by 40.0% in the 4th 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 during the period. Institutional investors and hedge funds own 86.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVAV. Jefferies Financial Group dropped their price objective on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Wall Street Zen upgraded shares of AeroVironment from a "sell" rating to a "hold" rating in a report on Friday. Royal Bank of Canada reiterated an "outperform" rating and issued a $190.00 price target on shares of AeroVironment in a research report on Monday, May 12th. Raymond James upgraded shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target for the company in a research report on Tuesday, April 8th. Finally, William Blair restated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $208.50.

Insider Activity

In related news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $14,765,306.80. This represents 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.

AeroVironment Stock Performance

Shares of AVAV opened at $190.89 on Friday. The company has a 50-day simple moving average of $155.54 and a 200-day simple moving average of $157.90. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.39 billion, a PE ratio of 109.71 and a beta of 0.81. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60.

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.

Want to see what other hedge funds are holding AVAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AeroVironment, Inc. (NASDAQ:AVAV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.