111,498 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 111,498 shares of the aerospace company’s stock, valued at approximately $17,158,000. Point72 Asset Management L.P. owned approximately 0.40% of AeroVironment as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of AVAV. CoreCap Advisors LLC grew its position in shares of AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after buying an additional 101 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of AeroVironment in the 4th quarter valued at $31,000. Colonial Trust Advisors acquired a new position in shares of AeroVironment in the 4th quarter valued at $31,000. Accredited Wealth Management LLC bought a new position in shares of AeroVironment in the 4th quarter worth $31,000. Finally, Wilmington Savings Fund Society FSB grew its stake 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 worth $32,000 after purchasing an additional 197 shares during the period. 86.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price objective on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird decreased their price objective on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price on the stock in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $190.00 price target on shares of AeroVironment in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AeroVironment currently has a consensus rating of “Buy” and a consensus target price of $197.83.

AeroVironment Price Performance

NASDAQ AVAV opened at $164.09 on Friday. 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 stock has a market cap of $4.63 billion, a price-to-earnings ratio of 94.30 and a beta of 0.80. The business has a 50 day simple moving average of $140.32 and a 200 day simple moving average of $161.83. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60.

Insider Activity

In related news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at $14,765,306.80. This trade represents a 20.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.