Lazard Asset Management LLC Has $47,000 Position in AeroVironment, Inc. (NASDAQ:AVAV)

Lazard Asset Management LLC reduced its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 65.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 310 shares of the aerospace company’s stock after selling 582 shares during the period. Lazard Asset Management LLC’s holdings in AeroVironment were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVAV. CoreCap Advisors LLC grew its stake 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 purchasing an additional 101 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of AeroVironment during the 4th quarter valued at about $31,000. Colonial Trust Advisors bought a new stake in shares of AeroVironment in the 4th quarter valued at approximately $31,000. Accredited Wealth Management LLC acquired a new position in AeroVironment in the fourth quarter worth approximately $31,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in AeroVironment by 1,515.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock worth $32,000 after buying an additional 197 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on AVAV shares. Jefferies Financial Group reduced their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $190.00 price objective on shares of AeroVironment in a report on Monday, May 12th. Robert W. Baird cut their target price on AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Wall Street Zen downgraded AeroVironment from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $197.83.

Insiders Place Their Bets

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.27% of the company’s stock.

AeroVironment Price Performance

NASDAQ AVAV opened at $169.07 on Monday. The stock has a 50-day simple moving average of $144.49 and a 200 day simple moving average of $159.66. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $236.60. The stock has a market capitalization of $4.77 billion, a PE ratio of 97.17 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

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.