Man Group plc increased its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 30.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,205 shares of the aerospace company's stock after purchasing an additional 6,854 shares during the quarter. Man Group plc owned 0.10% of AeroVironment worth $4,494,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. purchased a new position in shares of AeroVironment during the 4th quarter worth $93,759,000. Raymond James Financial Inc. purchased a new position in shares of AeroVironment during the 4th quarter worth $46,789,000. Norges Bank purchased a new position in shares of AeroVironment during the 4th quarter worth $37,502,000. Baillie Gifford & Co. boosted its stake in shares of AeroVironment by 9.4% during the 4th quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock worth $328,598,000 after acquiring an additional 183,887 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of AeroVironment by 415.7% during the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock worth $30,620,000 after acquiring an additional 160,390 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on AVAV shares. Raymond James upgraded shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada restated an "outperform" rating and set a $190.00 price objective on shares of AeroVironment in a research report on Monday, May 12th. William Blair restated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Wall Street Zen downgraded shares of AeroVironment from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $197.83.
Read Our Latest Report on AeroVironment
Insiders Place Their Bets
In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the business's 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 sale, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. The trade was a 20.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.27% of the company's stock.
AeroVironment Price Performance
NASDAQ AVAV traded up $9.07 on Tuesday, reaching $178.14. The company had a trading volume of 560,681 shares, compared to its average volume of 416,905. The stock has a market capitalization of $5.03 billion, a PE ratio of 102.38 and a beta of 0.80. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $236.60. 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 firm's 50 day moving average price is $146.42 and its 200 day moving average price is $159.38.
About AeroVironment
(
Free Report)
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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