Edgewood Management LLC Invests $2.31 Million in AeroVironment, Inc. (NASDAQ:AVAV)

Edgewood Management LLC bought a new stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the aerospace company's stock, valued at approximately $2,308,000. Edgewood Management LLC owned about 0.05% of AeroVironment as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its stake in AeroVironment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company's stock valued at $1,257,000 after buying an additional 68 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of AeroVironment by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company's stock valued at $2,711,000 after acquiring an additional 100 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of AeroVironment by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,170 shares of the aerospace company's stock worth $642,000 after acquiring an additional 105 shares during the period. Atria Investments Inc raised its holdings in AeroVironment by 7.0% during the fourth quarter. Atria Investments Inc now owns 1,650 shares of the aerospace company's stock worth $254,000 after purchasing an additional 108 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in AeroVironment by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the aerospace company's stock valued at $582,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 86.38% of the company's stock.

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AeroVironment Price Performance

AeroVironment stock traded up $7.69 during trading hours on Friday, hitting $146.66. The stock had a trading volume of 187,366 shares, compared to its average volume of 407,870. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $236.60. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 84.03 and a beta of 0.74. The stock's fifty day moving average is $141.06 and its two-hundred day moving average is $172.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVAV. William Blair reissued an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Jefferies Financial Group cut their price objective on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Robert W. Baird reduced their target price on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Finally, Raymond James raised shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target on the stock in a research note on Tuesday. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AeroVironment currently has an average rating of "Buy" and an average price target of $202.00.

Insider Activity at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction 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 approximately $14,765,306.80. This trade 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. 1.27% of the stock is owned by corporate insiders.

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.