Vanguard Group Inc. Reduces Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Vanguard Group Inc. lessened its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,044,284 shares of the aerospace company's stock after selling 54,538 shares during the period. Vanguard Group Inc. owned 10.79% of AeroVironment worth $362,848,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVAV. Alyeska Investment Group L.P. purchased a new position in shares of AeroVironment during the 4th quarter valued at $93,759,000. Stephens Investment Management Group LLC lifted its position in shares of AeroVironment by 41.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock valued at $91,000,000 after buying an additional 221,948 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of AeroVironment by 1,159.0% during the 4th quarter. Voya Investment Management LLC now owns 140,598 shares of the aerospace company's stock valued at $21,637,000 after buying an additional 129,431 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of AeroVironment during the 4th quarter valued at $17,158,000. Finally, Barclays PLC lifted its position in shares of AeroVironment by 151.9% during the 4th quarter. Barclays PLC now owns 144,177 shares of the aerospace company's stock valued at $22,188,000 after buying an additional 86,932 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $246.65 on Friday. The business's 50-day moving average price is $243.04 and its two-hundred day moving average price is $183.20. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $295.90. The stock has a market cap of $12.32 billion, a P/E ratio of 159.13 and a beta of 0.99. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, beating 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 return on equity of 10.68% and a net margin of 5.32%. The company's revenue was up 39.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. As a group, equities analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Analyst Ratings Changes

AVAV has been the topic of a number of recent research reports. Canaccord Genuity Group initiated coverage on AeroVironment in a report on Monday, August 11th. They set a "buy" rating and a $305.00 price objective on the stock. The Goldman Sachs Group initiated coverage on AeroVironment in a report on Monday, June 30th. They set a "buy" rating and a $301.00 price objective on the stock. Oppenheimer reissued an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Cantor Fitzgerald initiated coverage on AeroVironment in a report on Tuesday, July 8th. They set an "overweight" rating and a $335.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on AeroVironment from $210.00 to $267.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. One equities research 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 stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $285.33.

Insider Activity at AeroVironment

In other news, CEO Wahid Nawabi sold 17,300 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the transaction, the chief executive officer directly owned 122,233 shares in the company, valued at approximately $32,153,390.65. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.27% 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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