Sage Mountain Advisors LLC Takes $288,000 Position in AeroVironment, Inc. $AVAV

Sage Mountain Advisors LLC bought a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the second quarter, HoldingsChannel reports. The firm bought 1,012 shares of the aerospace company’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its position in shares of AeroVironment by 48.2% during the first quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company’s stock worth $107,606,000 after acquiring an additional 293,553 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in shares of AeroVironment by 41.0% during the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock worth $91,000,000 after acquiring an additional 221,948 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of AeroVironment by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,486 shares of the aerospace company’s stock worth $54,409,000 after acquiring an additional 33,169 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of AeroVironment by 281.6% during the first quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company’s stock worth $51,288,000 after acquiring an additional 317,530 shares during the last quarter. Finally, ARK Investment Management LLC boosted its position in shares of AeroVironment by 10.5% during the second quarter. ARK Investment Management LLC now owns 310,760 shares of the aerospace company’s stock worth $88,551,000 after acquiring an additional 29,437 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AVAV shares. Canaccord Genuity Group upped their target price on shares of AeroVironment from $305.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. BTIG Research raised their target price on shares of AeroVironment from $300.00 to $415.00 and gave the company a “buy” rating in a report on Friday, October 3rd. JMP Securities raised their target price on shares of AeroVironment from $325.00 to $400.00 and gave the company a “market outperform” rating in a report on Friday, October 3rd. Zacks Research lowered shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, Robert W. Baird raised their target price on shares of AeroVironment from $267.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AeroVironment currently has an average rating of “Moderate Buy” and an average target price of $356.07.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the transaction, the insider directly owned 4,907 shares of the company’s stock, valued at $1,869,567. The trade was a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of AeroVironment stock in a transaction on Friday, October 10th. The stock was sold at an average price of $399.74, for a total transaction of $398,940.52. Following the transaction, the chief financial officer directly owned 19,324 shares of the company’s stock, valued at $7,724,575.76. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

AeroVironment Stock Up 3.9%

NASDAQ AVAV opened at $378.54 on Monday. The company has a quick ratio of 5.12, a current ratio of 5.96 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $301.57 and a two-hundred day moving average of $238.87. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of -591.46, a PEG ratio of 5.34 and a beta of 0.99. AeroVironment, Inc. has a 52 week low of $102.25 and a 52 week high of $417.86.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. The company had revenue of $132.62 million during the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. On average, analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current 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.