Sei Investments Co. Lowers Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Sei Investments Co. cut its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 1.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,655 shares of the aerospace company’s stock after selling 190 shares during the quarter. Sei Investments Co.’s holdings in AeroVironment were worth $1,151,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AVAV. Alyeska Investment Group L.P. purchased a new stake in shares of AeroVironment during the 4th quarter valued at $93,759,000. Stephens Investment Management Group LLC grew its stake in shares of AeroVironment by 41.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock valued at $91,000,000 after buying an additional 221,948 shares during the period. Nuveen LLC purchased a new stake in shares of AeroVironment during the 1st quarter valued at $23,501,000. Voya Investment Management LLC grew its stake in shares of AeroVironment by 1,159.0% during the 4th quarter. Voya Investment Management LLC now owns 140,598 shares of the aerospace company’s stock valued at $21,637,000 after buying an additional 129,431 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of AeroVironment during the 4th quarter valued at $17,158,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Raymond James Financial set a $225.00 price objective on shares of AeroVironment and gave the company a “strong-buy” rating in a research note on Wednesday, June 25th. Wedbush upgraded shares of AeroVironment to an “outperform” rating in a report on Wednesday, June 25th. Oppenheimer restated an “outperform” rating on shares of AeroVironment in a report on Sunday, June 29th. KeyCorp initiated coverage on shares of AeroVironment in a report on Sunday, June 29th. They set an “overweight” rating on the stock. Finally, BTIG Research lifted their target price on shares of AeroVironment from $225.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $285.33.

Insider Buying and Selling at AeroVironment

In other news, CEO Wahid Nawabi sold 17,300 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total value of $4,550,765.00. Following the completion of the sale, the chief executive officer owned 122,233 shares of the company’s stock, valued at approximately $32,153,390.65. The trade was a 12.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.27% of the company’s stock.

AeroVironment Stock Performance

Shares of AVAV stock opened at $246.65 on Friday. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $295.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 2.69. The firm has a market capitalization of $12.32 billion, a P/E ratio of 159.13 and a beta of 0.99. The company’s fifty day moving average price is $243.04 and its two-hundred day moving average price is $183.12.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $275.05 million for the quarter, compared to analyst estimates of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The firm’s revenue was up 39.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. On average, research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

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.