Emerald Advisers LLC Trims Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Emerald Advisers LLC lessened its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 214,010 shares of the aerospace company's stock after selling 3,656 shares during the period. AeroVironment comprises approximately 1.3% of Emerald Advisers LLC's portfolio, making the stock its 22nd largest position. Emerald Advisers LLC owned 0.76% of AeroVironment worth $32,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVAV. Raymond James Financial Inc. acquired a new stake in shares of AeroVironment in the fourth quarter valued at $46,789,000. Wellington Management Group LLP boosted its holdings in AeroVironment by 155.1% during the 3rd quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company's stock valued at $64,457,000 after acquiring an additional 195,443 shares during the period. Baillie Gifford & Co. grew its position in AeroVironment by 9.4% in the 4th quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock valued at $328,598,000 after acquiring an additional 183,887 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of AeroVironment by 40.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company's stock worth $83,338,000 after purchasing an additional 154,703 shares in the last quarter. Finally, Heard Capital LLC boosted its stake in shares of AeroVironment by 25.5% in the third quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company's stock valued at $118,723,000 after purchasing an additional 120,447 shares during the period. Hedge funds and other institutional investors own 86.38% of the company's stock.

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AeroVironment Stock Down 1.9 %

Shares of NASDAQ:AVAV traded down $2.41 during trading hours on Thursday, reaching $123.59. The stock had a trading volume of 253,786 shares, compared to its average volume of 390,285. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 71.03 and a beta of 0.42. The firm's 50 day moving average is $153.36 and its 200-day moving average is $177.06. AeroVironment, Inc. has a 1 year low of $110.07 and a 1 year 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 Transactions at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of the business'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 transaction of $3,764,721.20. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. The trade was a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird cut their price objective on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Finally, William Blair reiterated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. One research 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's stock. Based on data from MarketBeat, AeroVironment has an average rating of "Buy" and an average price target of $202.40.

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.