Marshall Wace LLP Increases Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Marshall Wace LLP raised its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 2,077.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 24,652 shares of the aerospace company's stock after purchasing an additional 23,520 shares during the period. Marshall Wace LLP owned approximately 0.09% of AeroVironment worth $3,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in AeroVironment by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,098,822 shares of the aerospace company's stock worth $476,878,000 after purchasing an additional 35,543 shares in the last quarter. Baillie Gifford & Co. increased its holdings in AeroVironment by 9.4% during the 4th quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock worth $328,598,000 after purchasing an additional 183,887 shares in the last quarter. Geode Capital Management LLC increased its holdings in AeroVironment by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock worth $100,670,000 after purchasing an additional 19,835 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in AeroVironment by 40.0% during the 4th 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, Congress Asset Management Co. increased its holdings in AeroVironment by 10.9% during the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company's stock worth $51,275,000 after purchasing an additional 32,663 shares in the last quarter. 86.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVAV shares. Jefferies Financial Group reduced their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 target price for the company in a report on Tuesday, April 8th. Robert W. Baird reduced their target price on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $202.00.

Insiders Place Their Bets

In other news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $14,765,306.80. This represents a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.27% of the stock is owned by corporate insiders.

AeroVironment Trading Up 2.4 %

Shares of AeroVironment stock traded up $3.53 during midday trading on Tuesday, reaching $153.24. 291,933 shares of the company's stock traded hands, compared to its average volume of 412,856. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The company has a market cap of $4.32 billion, a PE ratio of 88.07 and a beta of 0.74. The stock has a 50 day moving average of $135.26 and a 200-day moving average of $166.94. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $236.60.

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.