AeroVironment, Inc. (NASDAQ:AVAV) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 121.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,846 shares of the aerospace company’s stock after acquiring an additional 22,393 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of AeroVironment worth $6,286,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in AeroVironment by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,098,822 shares of the aerospace company’s stock worth $476,878,000 after purchasing an additional 35,543 shares during the period. Baillie Gifford & Co. grew its holdings in AeroVironment by 9.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company’s stock worth $328,598,000 after acquiring an additional 183,887 shares during the period. Geode Capital Management LLC grew its holdings in AeroVironment by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company’s stock worth $100,670,000 after acquiring an additional 19,835 shares during the period. Stephens Investment Management Group LLC raised its position in AeroVironment by 40.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company’s stock valued at $83,338,000 after acquiring an additional 154,703 shares in the last quarter. Finally, Congress Asset Management Co. lifted its holdings in AeroVironment by 10.9% in the fourth quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock valued at $51,275,000 after acquiring an additional 32,663 shares during the period. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Down 2.3 %

AVAV stock opened at $144.20 on Tuesday. AeroVironment, Inc. has a 52 week low of $102.25 and a 52 week high of $236.60. 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 firm has a 50-day simple moving average of $136.16 and a 200-day simple moving average of $169.03. The stock has a market capitalization of $4.07 billion, a P/E ratio of 82.87 and a beta of 0.74.

Insider Buying and Selling

In other AeroVironment 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 transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at $14,765,306.80. This represents a 20.32 % decrease in their ownership of the stock. The sale 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 insiders.

Analyst Ratings Changes

AVAV has been the subject of several recent research reports. Raymond James raised shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price for the company in a report on Tuesday, April 8th. Jefferies Financial Group cut their price objective on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. William Blair reissued an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Finally, Robert W. Baird cut their price target on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $202.00.

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.