AeroVironment, Inc. (NASDAQ:AVAV) Position Lowered by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 458,430 shares of the aerospace company's stock after selling 17,617 shares during the period. Alliancebernstein L.P. owned approximately 1.63% of AeroVironment worth $70,548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Modus Advisors LLC purchased a new stake in AeroVironment during the fourth quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new stake in shares of AeroVironment during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of AeroVironment by 1,515.4% during 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 period. Bogart Wealth LLC acquired a new stake in AeroVironment during the 4th quarter worth approximately $38,000. Finally, Blue Trust Inc. raised 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 buying an additional 295 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their price objective 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. William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Robert W. Baird lowered their price target on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $202.40.

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AeroVironment Stock Up 5.9 %

Shares of AVAV stock traded up $6.65 on Tuesday, hitting $120.03. The stock had a trading volume of 152,454 shares, compared to its average volume of 400,011. The stock's 50 day moving average is $145.36 and its 200-day moving average is $173.96. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 68.67 and a beta of 0.74. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

Insider Activity

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at $14,765,306.80. This represents a 20.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.27% of the company's stock.

AeroVironment Company 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.