Washington Harbour Partners LP Boosts Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Washington Harbour Partners LP raised its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 71.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,200 shares of the aerospace company's stock after buying an additional 8,800 shares during the quarter. AeroVironment comprises about 7.6% of Washington Harbour Partners LP's investment portfolio, making the stock its 3rd biggest position. Washington Harbour Partners LP owned about 0.08% of AeroVironment worth $4,251,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Security National Bank acquired a new stake in AeroVironment during the third quarter worth about $31,000. Canada Pension Plan Investment Board acquired a new position in shares of AeroVironment in the 2nd quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in shares of AeroVironment in the 3rd quarter worth about $62,000. Avior Wealth Management LLC grew its position in shares of AeroVironment by 51.0% during the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock worth $79,000 after acquiring an additional 133 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in shares of AeroVironment by 23.1% during the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company's stock valued at $80,000 after purchasing an additional 75 shares in the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total transaction of $78,697.08. Following the completion of the sale, the chief financial officer now owns 16,472 shares of the company's stock, valued at approximately $3,273,480.56. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 1,782 shares of company stock valued at $373,609. Corporate insiders own 1.27% of the company's stock.

AeroVironment Price Performance

AVAV stock traded down $2.29 during midday trading on Friday, reaching $163.33. 799,610 shares of the stock were exchanged, compared to its average volume of 354,446. The company has a fifty day moving average price of $208.20 and a 200 day moving average price of $194.17. The stock has a market capitalization of $4.61 billion, a PE ratio of 94.34 and a beta of 0.45. AeroVironment, Inc. has a 52 week low of $116.51 and a 52 week high of $236.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.29). AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business had revenue of $188.46 million during the quarter, compared to analyst estimates of $181.80 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts expect that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of AeroVironment from a "hold" rating to a "buy" rating and reduced their price objective for the company from $240.00 to $230.00 in a research report on Wednesday, November 20th. BTIG Research reaffirmed a "buy" rating and set a $245.00 price target on shares of AeroVironment in a research note on Tuesday, September 17th. Royal Bank of Canada cut their target price on AeroVironment from $230.00 to $215.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. Robert W. Baird upgraded shares of AeroVironment from a "neutral" rating to an "outperform" rating and upped their price target for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. Finally, Alembic Global Advisors upgraded shares of AeroVironment from a "neutral" rating to an "overweight" rating and set a $216.00 price objective on the stock in a research note on Wednesday, August 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $211.83.

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.