KLP Kapitalforvaltning AS Takes Position in AeroVironment, Inc. (NASDAQ:AVAV)

KLP Kapitalforvaltning AS acquired a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,800 shares of the aerospace company's stock, valued at approximately $893,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVAV. Modus Advisors LLC acquired a new position in shares of AeroVironment in the 4th quarter valued at $31,000. Golden State Wealth Management LLC acquired a new position in AeroVironment during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB increased its stake in 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 buying an additional 197 shares during the period. Bogart Wealth LLC acquired a new stake in shares of AeroVironment in the fourth quarter valued at $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 acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 86.38% of the company's stock.

Insider Activity at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction dated 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 directly owns 115,174 shares in the company, valued at $14,765,306.80. This trade represents a 20.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.27% of the company's stock.

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Wall Street Analysts Forecast Growth

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

AeroVironment Trading Down 7.3 %

Shares of AeroVironment stock traded down $9.25 during trading hours on Thursday, hitting $117.59. The company's stock had a trading volume of 376,849 shares, compared to its average volume of 397,379. The business has a fifty day moving average of $149.27 and a 200 day moving average of $175.26. The company has a market capitalization of $3.32 billion, a PE ratio of 67.58 and a beta of 0.42. AeroVironment, Inc. has a 1-year low of $110.07 and a 1-year high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

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.