Edgewood Management LLC Makes New Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Edgewood Management LLC purchased a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,000 shares of the aerospace company’s stock, valued at approximately $2,308,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in AeroVironment by 299.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock valued at $1,037,000 after acquiring an additional 3,614 shares during the period. Congress Asset Management Co. raised its stake in shares of AeroVironment by 10.9% during the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock valued at $51,275,000 after purchasing an additional 32,663 shares during the period. Cibc World Markets Corp purchased a new stake in AeroVironment during the 4th quarter worth about $404,000. Fisher Asset Management LLC grew its holdings in AeroVironment by 63.0% during the 4th quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company’s stock valued at $33,518,000 after buying an additional 84,170 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of AeroVironment by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock valued at $21,029,000 after buying an additional 4,107 shares during the period. Institutional investors own 86.38% of the company’s stock.

Insider Buying and Selling at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.27% of the company’s stock.

AeroVironment Stock Performance

NASDAQ AVAV opened at $111.65 on Friday. AeroVironment, Inc. has a 52-week low of $110.07 and a 52-week high of $236.60. The company has a fifty day moving average of $146.62 and a 200-day moving average of $174.43. The company has a market capitalization of $3.15 billion, a P/E ratio of 64.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

Analysts Set New Price Targets

Several analysts have issued reports on AVAV shares. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Robert W. Baird lowered their price objective on AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group reduced 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. 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’s stock. Based on data from MarketBeat, AeroVironment currently has an average rating of “Buy” and a consensus target price of $202.40.

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.