AeroVironment, Inc. (NASDAQ:AVAV) Holdings Lifted by Legacy Bridge LLC

Legacy Bridge LLC grew its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 3,693.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,756 shares of the aerospace company’s stock after buying an additional 3,657 shares during the period. Legacy Bridge LLC’s holdings in AeroVironment were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AVAV. American Century Companies Inc. bought a new stake in AeroVironment during the 2nd quarter valued at $206,000. Envestnet Asset Management Inc. increased its stake in shares of AeroVironment by 24.5% during the second quarter. Envestnet Asset Management Inc. now owns 23,137 shares of the aerospace company’s stock valued at $4,215,000 after acquiring an additional 4,550 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of AeroVironment during the 2nd quarter valued at $36,000. Sei Investments Co. lifted its stake in AeroVironment by 3.8% during the second quarter. Sei Investments Co. now owns 21,926 shares of the aerospace company’s stock valued at $3,994,000 after buying an additional 810 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of AeroVironment by 162.1% in the 2nd quarter. Squarepoint Ops LLC now owns 30,824 shares of the aerospace company’s stock valued at $5,615,000 after acquiring an additional 19,065 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVAV has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of AeroVironment from a “hold” rating to a “buy” rating and lowered their price objective for the company from $240.00 to $230.00 in a research report on Wednesday, November 20th. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AeroVironment has an average rating of “Buy” and a consensus target price of $225.20.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $176.54 on Tuesday. AeroVironment, Inc. has a 52-week low of $119.46 and a 52-week high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 101.46 and a beta of 0.50. The firm’s 50-day moving average is $171.11 and its 200-day moving average is $186.01.

AeroVironment (NASDAQ:AVAV) last released 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 the consensus estimate of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Insider Activity

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 508 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $216.65, for a total transaction of $110,058.20. Following the completion of the transaction, the chief financial officer now directly owns 16,868 shares in the company, valued at $3,654,452.20. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.27% of the stock is 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.