1,328 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. bought a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,328 shares of the aerospace company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVAV. Arizona State Retirement System boosted its stake in AeroVironment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company’s stock worth $1,257,000 after purchasing an additional 68 shares during the period. New York State Teachers Retirement System raised its stake in shares of AeroVironment by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company’s stock valued at $2,711,000 after acquiring an additional 100 shares during the period. Exchange Traded Concepts LLC lifted its stake in AeroVironment by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,170 shares of the aerospace company’s stock worth $642,000 after purchasing an additional 105 shares during the last quarter. Atria Investments Inc boosted its holdings in AeroVironment by 7.0% during the 4th quarter. Atria Investments Inc now owns 1,650 shares of the aerospace company’s stock valued at $254,000 after acquiring an additional 108 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of AeroVironment by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the aerospace company’s stock worth $582,000 after purchasing an additional 156 shares during the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. This trade represents a 20.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group cut their price target on AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. 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 research note on Wednesday, March 5th. Finally, William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $202.40.

AeroVironment Price Performance

AVAV stock opened at $120.93 on Friday. The business has a 50 day moving average price of $152.40 and a 200 day moving average price of $176.64. AeroVironment, Inc. has a fifty-two week low of $110.07 and a fifty-two week high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 69.50 and a beta of 0.42.

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.