Assenagon Asset Management S.A. Boosts Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Assenagon Asset Management S.A. lifted its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 740.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,919 shares of the aerospace company’s stock after acquiring an additional 56,318 shares during the period. Assenagon Asset Management S.A. owned 0.23% of AeroVironment worth $9,836,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. raised its stake in AeroVironment by 29.1% during the third quarter. Baillie Gifford & Co. now owns 1,951,393 shares of the aerospace company’s stock worth $391,254,000 after purchasing an additional 439,717 shares during the period. International Assets Investment Management LLC raised its position in shares of AeroVironment by 19,950.0% in the 3rd quarter. International Assets Investment Management LLC now owns 267,066 shares of the aerospace company’s stock worth $53,547,000 after buying an additional 265,734 shares during the period. Wellington Management Group LLP boosted its holdings in AeroVironment by 155.1% in the third quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company’s stock valued at $64,457,000 after acquiring an additional 195,443 shares during the last quarter. Heard Capital LLC grew its position in AeroVironment by 25.5% during the third quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company’s stock valued at $118,723,000 after acquiring an additional 120,447 shares during the period. Finally, Victory Capital Management Inc. increased its stake in AeroVironment by 108.4% during the third quarter. Victory Capital Management Inc. now owns 180,824 shares of the aerospace company’s stock worth $36,255,000 after acquiring an additional 94,062 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVAV has been the topic of several research analyst reports. Jefferies Financial Group raised 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 note on Wednesday, November 20th. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $225.20.

AeroVironment Stock Performance

Shares of NASDAQ:AVAV opened at $168.74 on Friday. The business’s 50-day simple moving average is $175.30 and its 200 day simple moving average is $185.66. The company has a market cap of $4.76 billion, a P/E ratio of 96.98 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. AeroVironment, Inc. has a one year low of $119.46 and a one year high of $236.60.

AeroVironment (NASDAQ:AVAV) last posted 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). The firm had revenue of $188.46 million for the quarter, compared to analysts’ expectations of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 EPS. On average, sell-side analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,273,480.56. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.27% of the stock is currently owned by company insiders.

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.