Essex Investment Management Co. LLC Takes $1.32 Million Position in AeroVironment, Inc. (NASDAQ:AVAV)

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Essex Investment Management Co. LLC bought a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,721 shares of the aerospace company’s stock, valued at approximately $1,324,000. Essex Investment Management Co. LLC owned about 0.10% of AeroVironment at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVAV. North Star Investment Management Corp. acquired a new stake in AeroVironment during the third quarter worth approximately $29,000. Tyers Asset Management LLC grew its position in AeroVironment by 18.4% during the second quarter. Tyers Asset Management LLC now owns 2,880 shares of the aerospace company’s stock worth $164,000 after buying an additional 448 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in AeroVironment by 49.0% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,096 shares of the aerospace company’s stock worth $176,000 after buying an additional 1,018 shares in the last quarter. Bank of Montreal Can grew its position in AeroVironment by 134.2% during the second quarter. Bank of Montreal Can now owns 3,096 shares of the aerospace company’s stock worth $176,000 after buying an additional 1,774 shares in the last quarter. Finally, Elkfork Partners LLC lifted its stake in AeroVironment by 18.4% during the second quarter. Elkfork Partners LLC now owns 3,960 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 616 shares during the last quarter. 83.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of AVAV traded up $0.31 during trading hours on Thursday, reaching $57.98. The stock had a trading volume of 4,099 shares, compared to its average volume of 191,819. AeroVironment, Inc. has a 12 month low of $48.61 and a 12 month high of $103.46. The stock has a market capitalization of $1.37 billion, a PE ratio of 39.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.26 and a current ratio of 10.56. The company’s 50-day moving average is $57.00 and its two-hundred day moving average is $59.58.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.39. The company had revenue of $86.91 million during the quarter, compared to analysts’ expectations of $85.25 million. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. Equities analysts anticipate that AeroVironment, Inc. will post 1.65 earnings per share for the current fiscal year.

Several research firms have weighed in on AVAV. Robert W. Baird restated a “neutral” rating and set a $65.00 target price (down from $83.00) on shares of AeroVironment in a research note on Wednesday, June 26th. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Friday, September 6th. BidaskClub upgraded AeroVironment from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. William Blair restated a “buy” rating on shares of AeroVironment in a research note on Wednesday, August 21st. Finally, Piper Jaffray Companies upgraded AeroVironment from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $66.00 to $76.00 in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $71.72.

In other AeroVironment news, Chairman Timothy E. Conver sold 13,792 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $54.45, for a total transaction of $750,974.40. Following the completion of the sale, the chairman now directly owns 56,660 shares in the company, valued at approximately $3,085,137. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 6,896 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $50.93, for a total value of $351,213.28. Following the completion of the sale, the chairman now owns 56,660 shares of the company’s stock, valued at $2,885,693.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,064 shares of company stock valued at $3,397,728. 10.50% of the stock is owned by corporate insiders.

AeroVironment Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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