Wells Fargo & Company MN reduced its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,989 shares of the aerospace company's stock after selling 9,432 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of AeroVironment worth $7,231,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of AeroVironment by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock valued at $100,670,000 after buying an additional 19,835 shares during the last quarter. Franklin Resources Inc. raised its holdings in AeroVironment by 63.8% in the 4th quarter. Franklin Resources Inc. now owns 7,898 shares of the aerospace company's stock valued at $1,215,000 after acquiring an additional 3,077 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in AeroVironment by 7.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,873 shares of the aerospace company's stock worth $596,000 after purchasing an additional 285 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of AeroVironment during the 4th quarter worth approximately $250,000. Finally, Norges Bank purchased a new stake in shares of AeroVironment in the fourth quarter valued at approximately $37,502,000. Hedge funds and other institutional investors own 86.38% of the company's stock.
Insider Activity
In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value 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 approximately $14,765,306.80. This trade represents a 20.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.27% of the company's stock.
Wall Street Analyst Weigh In
AVAV has been the topic of a number of analyst reports. Raymond James upgraded AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective on the stock in a research report on Tuesday, April 8th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Robert W. Baird cut their price objective on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their target price 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. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AeroVironment has a consensus rating of "Buy" and a consensus target price of $202.00.
Get Our Latest Analysis on AeroVironment
AeroVironment Trading Up 2.2 %
NASDAQ AVAV traded up $3.20 during trading hours on Thursday, reaching $149.41. The company had a trading volume of 81,921 shares, compared to its average volume of 412,109. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.22 billion, a P/E ratio of 85.84 and a beta of 0.74. The stock has a 50-day moving average of $135.72 and a 200 day moving average of $168.74. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $236.60.
About AeroVironment
(
Free Report)
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.
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