Sequoia Financial Advisors LLC Acquires Shares of 1,748 AeroVironment, Inc. $AVAV

Key Points

• Sequoia Financial Advisors LLC has acquired 1,748 shares of AeroVironment, Inc., valuing the stake at approximately $498,000.
• AeroVironment's stock is currently trading at $364.04 and has a market capitalization of $18.18 billion.
• Recently, various brokerages have issued a 'buy' rating for AeroVironment, with a consensus price target set at $356.07.

Sequoia Financial Advisors LLC acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,748 shares of the aerospace company's stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AVAV. ORG Partners LLC boosted its position in shares of AeroVironment by 296.0% in the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after purchasing an additional 74 shares during the last quarter. RMG Wealth Management LLC bought a new position in shares of AeroVironment in the 2nd quarter worth $28,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of AeroVironment in the 1st quarter worth $40,000. Signaturefd LLC boosted its position in shares of AeroVironment by 56.1% in the 1st quarter. Signaturefd LLC now owns 398 shares of the aerospace company's stock worth $47,000 after purchasing an additional 143 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of AeroVironment by 46.2% in the 1st quarter. Manchester Capital Management LLC now owns 446 shares of the aerospace company's stock worth $53,000 after purchasing an additional 141 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

AeroVironment Trading Up 3.8%

AeroVironment stock opened at $364.04 on Tuesday. AeroVironment, Inc. has a 52 week low of $102.25 and a 52 week high of $417.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.12 and a current ratio of 5.96. The stock has a market capitalization of $18.18 billion, a P/E ratio of -568.80, a PEG ratio of 5.95 and a beta of 0.99. The stock has a 50-day simple moving average of $292.10 and a 200 day simple moving average of $232.00.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%.The business had revenue of $132.62 million during the quarter. Analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVAV. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price objective on shares of AeroVironment in a research note on Wednesday, September 10th. Oppenheimer reaffirmed an "outperform" rating on shares of AeroVironment in a research note on Sunday, June 29th. Raymond James Financial raised their price objective on AeroVironment from $300.00 to $348.00 and gave the stock a "strong-buy" rating in a research note on Monday, September 29th. Stifel Nicolaus raised their price objective on AeroVironment from $295.00 to $389.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Finally, Canaccord Genuity Group raised their price objective on AeroVironment from $305.00 to $430.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $356.07.

Insider Buying and Selling

In other news, insider Trace E. Stevenson sold 1,717 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the sale, the insider owned 4,907 shares in the company, valued at $1,869,567. The trade was a 25.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of the business's stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $399.74, for a total value of $398,940.52. Following the completion of the sale, the chief financial officer owned 19,324 shares of the company's stock, valued at approximately $7,724,575.76. This trade represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% 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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