Snowden Capital Advisors LLC Reduces Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Snowden Capital Advisors LLC decreased its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 85.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,974 shares of the aerospace company's stock after selling 11,569 shares during the period. Snowden Capital Advisors LLC's holdings in AeroVironment were worth $304,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of AeroVironment by 6.5% in the 4th quarter. Royal Bank of Canada now owns 108,265 shares of the aerospace company's stock worth $16,660,000 after acquiring an additional 6,587 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of AeroVironment by 4.7% during the fourth quarter. Rafferty Asset Management LLC now owns 7,169 shares of the aerospace company's stock worth $1,103,000 after purchasing an additional 320 shares during the last quarter. Redwood Investments LLC boosted its stake in AeroVironment by 0.7% in the fourth quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company's stock valued at $1,427,000 after acquiring an additional 66 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of AeroVironment in the 4th quarter valued at about $17,158,000. Finally, ProShare Advisors LLC raised its stake in AeroVironment by 53.8% during the 4th quarter. ProShare Advisors LLC now owns 8,453 shares of the aerospace company's stock worth $1,301,000 after buying an additional 2,956 shares during the period. 86.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird cut their price target on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and issued a $190.00 target price on shares of AeroVironment in a research report on Monday, May 12th. Wall Street Zen cut shares of AeroVironment from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group dropped their price target on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, William Blair restated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $197.83.

Insider Activity at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.27% of the stock is owned by company insiders.

AeroVironment Stock Down 0.5%

NASDAQ AVAV traded down $0.96 on Wednesday, reaching $177.19. The company had a trading volume of 148,496 shares, compared to its average volume of 415,916. 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 stock has a market capitalization of $5.00 billion, a P/E ratio of 101.86 and a beta of 0.80. The company's fifty day moving average is $146.42 and its 200 day moving average is $159.38. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60.

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.