Wealth Enhancement Advisory Services LLC Purchases New Position in AeroVironment, Inc. (NASDAQ:AVAV)

Wealth Enhancement Advisory Services LLC acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,628 shares of the aerospace company's stock, valued at approximately $251,000.

Several other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC increased its holdings in AeroVironment by 120.2% in the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after buying an additional 101 shares in the last quarter. Colonial Trust Advisors acquired a new stake in shares of AeroVironment during the 4th quarter valued at about $31,000. Accredited Wealth Management LLC purchased a new position in shares of AeroVironment in the 4th quarter valued at about $31,000. Bogart Wealth LLC purchased a new position in shares of AeroVironment in the 4th quarter valued at about $38,000. Finally, Blue Trust Inc. raised its holdings in AeroVironment by 2,950.0% in the 4th quarter. Blue Trust Inc. now owns 305 shares of the aerospace company's stock worth $47,000 after purchasing an additional 295 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Price Performance

AVAV stock traded up $2.06 on Tuesday, reaching $188.73. The company had a trading volume of 656,147 shares, compared to its average volume of 442,823. The company's fifty day moving average is $164.24 and its 200 day moving average is $157.54. The company has a market cap of $5.33 billion, a P/E ratio of 89.32 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 4.22. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year high of $236.60.

Insider Buying and Selling at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This represents a 20.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AVAV shares. Robert W. Baird boosted their price objective on AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Raymond James Financial raised shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target for the company in a report on Tuesday, April 8th. 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 report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Wall Street Zen lowered shares of AeroVironment from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $208.50.

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.