Profund Advisors LLC Invests $400,000 in AeroVironment, Inc. $AVAV

Profund Advisors LLC purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the second quarter, HoldingsChannel.com reports. The firm purchased 1,405 shares of the aerospace company’s stock, valued at approximately $400,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. lifted its holdings in AeroVironment by 48.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company’s stock worth $107,606,000 after buying an additional 293,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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. lifted its stake in shares of AeroVironment by 281.6% in 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AeroVironment by 54.0% in the second quarter. Bank of New York Mellon Corp now owns 398,772 shares of the aerospace company’s stock worth $113,630,000 after acquiring an additional 139,880 shares in the last quarter. Finally, ARK Investment Management LLC boosted its holdings in AeroVironment by 10.5% in the second quarter. ARK Investment Management LLC now owns 310,760 shares of the aerospace company’s stock valued at $88,551,000 after purchasing an additional 29,437 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Down 8.6%

Shares of NASDAQ:AVAV opened at $295.49 on Friday. The company’s fifty day moving average is $332.33 and its two-hundred day moving average is $258.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.12 and a current ratio of 5.96. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of -461.70, a price-to-earnings-growth ratio of 5.37 and a beta of 1.09.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Tuesday, September 16th. Canaccord Genuity Group raised their price target 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. Citizens Jmp started coverage on shares of AeroVironment in a report on Monday, August 4th. They issued a “strong-buy” rating and a $325.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of AeroVironment from $300.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Stifel Nicolaus raised their price objective on shares of AeroVironment from $295.00 to $389.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, AeroVironment currently has an average rating of “Moderate Buy” and an average target price of $356.07.

Insider Buying and Selling

In other news, CFO Kevin Patrick Mcdonnell sold 998 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 19,324 shares of the company’s stock, valued at approximately $7,724,575.76. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Trace E. Stevenson sold 1,717 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the completion of the sale, the insider directly owned 4,907 shares in the company, valued at approximately $1,869,567. This trade represents a 25.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,228 shares of company stock valued at $1,223,157. 0.81% of the stock is currently owned by insiders.

AeroVironment 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.