Vident Advisory LLC Acquires 4,573 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Vident Advisory LLC raised its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 31.6% in the fourth quarter, Holdings Channel reports. The fund owned 19,022 shares of the aerospace company’s stock after buying an additional 4,573 shares during the quarter. Vident Advisory LLC’s holdings in AeroVironment were worth $2,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AVAV. CoreCap Advisors LLC increased its position in AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 101 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of AeroVironment during the fourth quarter valued at about $31,000. Colonial Trust Advisors acquired a new position in shares of AeroVironment during the fourth quarter valued at about $31,000. Accredited Wealth Management LLC acquired a new position in shares of AeroVironment during the fourth quarter valued at about $31,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of AeroVironment by 1,515.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock valued at $32,000 after buying an additional 197 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVAV shares. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $190.00 price objective on shares of AeroVironment in a research report on Monday, May 12th. Raymond James raised shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective for the company in a research report on Tuesday, April 8th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, AeroVironment has a consensus rating of “Buy” and an average target price of $197.83.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $166.73 on Thursday. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month 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 firm has a market capitalization of $4.70 billion, a PE ratio of 95.82 and a beta of 0.80. The firm has a 50-day moving average price of $142.76 and a 200 day moving average price of $161.17.

Insider Buying and Selling

In related 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 of the company’s stock, valued at $14,765,306.80. This represents a 20.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.27% of the company’s stock.

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.