15,000 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Bought by Edgewood Management LLC

Edgewood Management LLC purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,000 shares of the aerospace company’s stock, valued at approximately $2,308,000. Edgewood Management LLC owned approximately 0.05% of AeroVironment at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVAV. Raymond James Financial Inc. bought a new stake in shares of AeroVironment during the fourth quarter worth about $46,789,000. Norges Bank bought a new stake in AeroVironment during the 4th quarter worth approximately $37,502,000. Wellington Management Group LLP raised its stake in shares of AeroVironment by 155.1% in the third quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company’s stock worth $64,457,000 after purchasing an additional 195,443 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of AeroVironment by 9.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company’s stock valued at $328,598,000 after buying an additional 183,887 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of AeroVironment by 415.7% during the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company’s stock valued at $30,620,000 after buying an additional 160,390 shares during the last quarter. 86.38% of the stock is owned by institutional investors.

AeroVironment Trading Down 5.1 %

NASDAQ AVAV opened at $111.65 on Friday. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 64.17 and a beta of 0.74. The business’s fifty day moving average is $146.62 and its 200-day moving average is $174.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment, Inc. has a one year low of $110.07 and a one year high of $236.60.

Insiders Place Their Bets

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. This trade represents a 20.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AVAV shares. William Blair reissued an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Robert W. Baird cut their price target on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $202.40.

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.