AeroVironment, Inc. (NASDAQ:AVAV) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in AeroVironment, Inc. by 7.3% during the first quarter, now owning 18,541 shares valued at $2,210,000.
• Analysts have shown positive sentiment, with a majority rating the stock as "buy"* or "outperform"* and setting a target price average of $285.33.
• AeroVironment recently reported strong quarterly results, with a earnings per share of $1.61, exceeding expectations and marking a 39.6% revenue increase year-over-year.

Townsquare Capital LLC raised its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 7.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 18,541 shares of the aerospace company's stock after acquiring an additional 1,257 shares during the period. Townsquare Capital LLC owned 0.07% of AeroVironment worth $2,210,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC grew its stake in shares of AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after buying an additional 101 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of AeroVironment by 171.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock valued at $29,000 after buying an additional 154 shares during the period. Accredited Wealth Management LLC purchased a new stake in shares of AeroVironment during the 4th quarter valued at $31,000. Spirit of America Management Corp NY purchased a new stake in shares of AeroVironment during the 1st quarter valued at $36,000. Finally, Signaturefd LLC grew its stake in shares of AeroVironment by 56.1% during the 1st quarter. Signaturefd LLC now owns 398 shares of the aerospace company's stock valued at $47,000 after buying an additional 143 shares during the period. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 17,300 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the sale, the chief executive officer owned 122,233 shares in the company, valued at $32,153,390.65. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVAV. JMP Securities began coverage on shares of AeroVironment in a research note on Monday, August 4th. They set a "market outperform" rating and a $325.00 price objective for the company. William Blair began coverage on shares of AeroVironment in a research report on Sunday, June 29th. They set an "outperform" rating for the company. KeyCorp began coverage on shares of AeroVironment in a research report on Sunday, June 29th. They set an "overweight" rating for the company. The Goldman Sachs Group began coverage on shares of AeroVironment in a research report on Monday, June 30th. They set a "buy" rating and a $301.00 price target for the company. Finally, Citigroup began coverage on shares of AeroVironment in a research report on Monday, August 4th. They set an "outperform" rating for the company. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AeroVironment has a consensus rating of "Buy" and a consensus target price of $285.33.

AeroVironment Stock Performance

AVAV traded down $3.08 on Friday, hitting $246.65. 670,967 shares of the company's stock were exchanged, compared to its average volume of 912,985. The firm has a market cap of $12.32 billion, a PE ratio of 159.13 and a beta of 0.99. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $295.90. The stock has a fifty day moving average of $243.04 and a two-hundred day moving average of $183.12. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $275.05 million for the quarter, compared to analyst estimates of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. AeroVironment's quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

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.