Norges Bank Makes New Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Norges Bank purchased 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 institutional investor purchased 243,694 shares of the aerospace company's stock, valued at approximately $37,502,000. Norges Bank owned approximately 0.86% of AeroVironment at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cerity Partners LLC lifted its stake in AeroVironment by 28.5% during the third quarter. Cerity Partners LLC now owns 2,225 shares of the aerospace company's stock worth $446,000 after purchasing an additional 494 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of AeroVironment in the 3rd quarter valued at $658,000. Centiva Capital LP bought a new position in shares of AeroVironment in the 3rd quarter valued at $582,000. HighTower Advisors LLC lifted its stake in shares of AeroVironment by 24.6% in the 3rd quarter. HighTower Advisors LLC now owns 8,240 shares of the aerospace company's stock valued at $1,655,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of AeroVironment by 93.8% in the 3rd quarter. Stifel Financial Corp now owns 11,030 shares of the aerospace company's stock valued at $2,212,000 after acquiring an additional 5,339 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Jefferies Financial Group lowered 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. Raymond James raised shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target on the stock in a report on Tuesday. Finally, Robert W. Baird reduced their price objective on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research note 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. Based on data from MarketBeat, AeroVironment currently has an average rating of "Buy" and a consensus target price of $202.00.

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AeroVironment Trading Down 0.2 %

AeroVironment stock traded down $0.32 during mid-day trading on Thursday, hitting $137.40. The company's stock had a trading volume of 184,243 shares, compared to its average volume of 462,458. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 78.97 and a beta of 0.74. The business has a 50 day moving average price of $141.74 and a 200-day moving average price of $172.45. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $236.60.

Insiders Place Their Bets

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company's stock, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.27% of the stock is currently owned by insiders.

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.