Point72 Asset Management L.P. Makes New $17.16 Million Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Point72 Asset Management L.P. purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 111,498 shares of the aerospace company’s stock, valued at approximately $17,158,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVAV. CoreCap Advisors LLC boosted its holdings in AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 101 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in AeroVironment in the 4th quarter valued at $31,000. Colonial Trust Advisors bought a new stake in AeroVironment during the 4th quarter worth about $31,000. Accredited Wealth Management LLC acquired a new position in shares of AeroVironment during the 4th quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of AeroVironment by 1,515.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 197 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was 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 of the company’s stock, 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 through this hyperlink. 1.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVAV has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Raymond James raised AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective for the company in a report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 target price on shares of AeroVironment in a research note on Monday, May 12th. Finally, Robert W. Baird dropped their price target on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AeroVironment currently has a consensus rating of “Buy” and a consensus price target of $197.83.

AeroVironment Price Performance

NASDAQ:AVAV opened at $164.09 on Friday. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $236.60. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 94.30 and a beta of 0.80. The stock’s 50 day moving average price is $140.32 and its two-hundred day moving average price is $161.83. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

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.