Legacy Bridge LLC Increases Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Legacy Bridge LLC raised its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 3,693.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,756 shares of the aerospace company's stock after acquiring an additional 3,657 shares during the quarter. Legacy Bridge LLC's holdings in AeroVironment were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVAV. Radnor Capital Management LLC lifted its holdings in AeroVironment by 1.0% during the third quarter. Radnor Capital Management LLC now owns 5,965 shares of the aerospace company's stock worth $1,196,000 after buying an additional 60 shares during the period. Arcadia Investment Management Corp MI lifted its stake in shares of AeroVironment by 23.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company's stock worth $80,000 after purchasing an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in AeroVironment by 7.2% during the third quarter. First Trust Direct Indexing L.P. now owns 1,434 shares of the aerospace company's stock valued at $288,000 after purchasing an additional 96 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in AeroVironment by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,170 shares of the aerospace company's stock valued at $642,000 after purchasing an additional 105 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock worth $79,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.

Insider Buying and Selling at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $198.73, for a total value of $78,697.08. Following the sale, the chief financial officer now directly owns 16,472 shares in the company, valued at approximately $3,273,480.56. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVAV. Jefferies Financial Group raised shares of AeroVironment from a "hold" rating to a "buy" rating and cut their price objective for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $225.20.

AeroVironment Stock Performance

AVAV traded up $8.53 on Friday, reaching $180.51. 252,562 shares of the stock were exchanged, compared to its average volume of 327,716. The company's 50-day moving average price is $169.73 and its 200 day moving average price is $185.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The firm has a market capitalization of $5.09 billion, a PE ratio of 103.61 and a beta of 0.50. AeroVironment, Inc. has a fifty-two week low of $119.46 and a fifty-two week high of $236.60.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.29). The business had revenue of $188.46 million during the quarter, compared to analyst estimates of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. AeroVironment's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. As a group, sell-side analysts forecast that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

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.