Stephens Investment Management Group LLC Decreases Position in AeroVironment, Inc. (NASDAQ:AVAV)

by · The Cerbat Gem

Stephens Investment Management Group LLC trimmed its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV – Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 386,838 shares of the aerospace company’s stock after selling 17,214 shares during the period. Stephens Investment Management Group LLC owned about 1.37% of AeroVironment worth $77,561,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVAV. UniSuper Management Pty Ltd purchased a new position in shares of AeroVironment in the first quarter valued at about $854,000. Vanguard Group Inc. boosted its holdings in AeroVironment by 6.2% in the first quarter. Vanguard Group Inc. now owns 3,094,831 shares of the aerospace company’s stock valued at $474,376,000 after acquiring an additional 179,395 shares in the last quarter. Natixis purchased a new position in AeroVironment during the 1st quarter valued at $924,000. Comerica Bank raised its holdings in AeroVironment by 53.9% in the 1st quarter. Comerica Bank now owns 18,991 shares of the aerospace company’s stock worth $2,911,000 after purchasing an additional 6,648 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of AeroVironment by 37.1% in the 1st quarter. Advisors Asset Management Inc. now owns 14,636 shares of the aerospace company’s stock worth $2,243,000 after purchasing an additional 3,958 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVAV has been the subject of a number of research reports. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a research note on Wednesday, August 28th. BTIG Research restated a “buy” rating and issued a $245.00 target price on shares of AeroVironment in a research note on Tuesday, September 17th. Raymond James downgraded AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Royal Bank of Canada reduced their target price on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $208.20.

Check Out Our Latest Report on AVAV

Insiders Place Their Bets

In other news, CFO Kevin Patrick Mcdonnell sold 878 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $210.54, for a total transaction of $184,854.12. Following the transaction, the chief financial officer now directly owns 17,376 shares of the company’s stock, valued at $3,658,343.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.27% of the company’s stock.

AeroVironment Price Performance

Shares of NASDAQ:AVAV opened at $214.96 on Friday. The company has a market capitalization of $6.06 billion, a PE ratio of 100.92 and a beta of 0.50. The business has a fifty day moving average price of $200.17 and a 200-day moving average price of $188.00. AeroVironment, Inc. has a 1-year low of $112.67 and a 1-year high of $227.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04.

AeroVironment (NASDAQ:AVAV – Get Free Report) last issued its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. During the same period in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities analysts expect that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

AeroVironment Company Profile

(Free Report)

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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