Nikko Asset Management Americas Inc. Sells 35,736 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Nikko Asset Management Americas Inc. decreased its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,575 shares of the aerospace company's stock after selling 35,736 shares during the period. Nikko Asset Management Americas Inc. owned 0.67% of AeroVironment worth $29,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in shares of AeroVironment during the fourth quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of AeroVironment in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB boosted its position in shares of AeroVironment by 1,515.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock worth $32,000 after purchasing an additional 197 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of AeroVironment during the fourth quarter worth $38,000. Finally, Blue Trust Inc. increased its holdings in AeroVironment by 2,950.0% in the fourth quarter. Blue Trust Inc. now owns 305 shares of the aerospace company's stock valued at $47,000 after purchasing an additional 295 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVAV has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. William Blair reissued an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Robert W. Baird dropped their price objective on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $202.40.

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AeroVironment Stock Down 0.1 %

AeroVironment stock traded down $0.09 during mid-day trading on Friday, reaching $125.01. The company's stock had a trading volume of 733,798 shares, compared to its average volume of 389,511. The business's 50 day simple moving average is $157.16 and its 200 day simple moving average is $179.27. 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, Inc. has a 12 month low of $110.07 and a 12 month high of $236.60. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 71.84 and a beta of 0.42.

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.