AeroVironment, Inc. (NASDAQ:AVAV) Shares Acquired by Legacy Bridge LLC

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings in AeroVironment by 299.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after buying an additional 3,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in AeroVironment by 22.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,893 shares of the aerospace company’s stock valued at $599,000 after purchasing an additional 721 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AeroVironment by 740.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 63,919 shares of the aerospace company’s stock valued at $9,836,000 after buying an additional 56,318 shares during the period. Park Avenue Securities LLC acquired a new position in shares of AeroVironment during the fourth quarter worth about $212,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of AeroVironment during the third quarter worth approximately $271,000. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Stock Down 2.1 %

Shares of AeroVironment stock opened at $176.54 on Tuesday. AeroVironment, Inc. has a twelve month low of $119.46 and a twelve month high of $236.60. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 101.46 and a beta of 0.50. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $171.11 and a 200 day moving average price of $186.01.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). The firm had revenue of $188.46 million for the quarter, compared to analysts’ expectations of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Equities research analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on AVAV shares. Jefferies Financial Group raised AeroVironment from a “hold” rating to a “buy” rating and decreased their price target for the stock from $240.00 to $230.00 in a report on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Thursday, December 5th. One research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $225.20.

Insider Buying and Selling

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total transaction of $78,697.08. Following the sale, the chief financial officer now directly owns 16,472 shares in the company, valued at approximately $3,273,480.56. This represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.27% of the stock is currently owned by company insiders.

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.