MADDEN SECURITIES Corp Decreases Stake in AeroVironment, Inc. (NASDAQ:AVAV)

MADDEN SECURITIES Corp cut its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 35.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,685 shares of the aerospace company's stock after selling 6,290 shares during the period. MADDEN SECURITIES Corp's holdings in AeroVironment were worth $1,393,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Redwood Investments LLC lifted its stake in AeroVironment by 0.7% during the 4th quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company's stock worth $1,427,000 after acquiring an additional 66 shares in the last quarter. Arizona State Retirement System increased its stake in AeroVironment by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company's stock worth $1,257,000 after purchasing an additional 68 shares during the period. Portside Wealth Group LLC lifted its position in shares of AeroVironment by 4.3% during the first quarter. Portside Wealth Group LLC now owns 1,741 shares of the aerospace company's stock worth $208,000 after purchasing an additional 71 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of AeroVironment by 5.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,601 shares of the aerospace company's stock valued at $246,000 after purchasing an additional 83 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of AeroVironment by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company's stock valued at $2,711,000 after purchasing an additional 100 shares during the period. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction 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 transaction, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. This trade represents a 20.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVAV shares. Raymond James upgraded shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 target price on the stock in a report on Tuesday, April 8th. Robert W. Baird increased their price objective on AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday. Royal Bank of Canada reiterated an "outperform" rating and issued a $190.00 target price on shares of AeroVironment in a report on Monday, May 12th. Jefferies Financial Group cut their price target on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $208.50.

AeroVironment Trading Down 3.1%

Shares of AVAV traded down $6.10 on Tuesday, hitting $189.62. 547,554 shares of the stock traded hands, compared to its average volume of 437,259. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year high of $236.60. The stock's 50 day moving average is $156.92 and its two-hundred day moving average is $157.65. The firm has a market capitalization of $5.35 billion, a P/E ratio of 108.98 and a beta of 0.81. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

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.