AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lessened its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 16.0% during the 3rd quarter, Holdings Channel reports. The firm owned 15,194 shares of the aerospace company’s stock after selling 2,897 shares during the period. Townsquare Capital LLC’s holdings in AeroVironment were worth $3,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in AeroVironment by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,598 shares of the aerospace company’s stock worth $2,698,000 after buying an additional 1,224 shares in the last quarter. California State Teachers Retirement System grew its stake in AeroVironment by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 28,019 shares of the aerospace company’s stock worth $4,295,000 after purchasing an additional 318 shares in the last quarter. Comerica Bank increased its holdings in AeroVironment by 53.9% during the 1st quarter. Comerica Bank now owns 18,991 shares of the aerospace company’s stock worth $2,911,000 after purchasing an additional 6,648 shares during the period. Tandem Capital Management Corp ADV raised its position in AeroVironment by 14.3% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 6,417 shares of the aerospace company’s stock valued at $1,084,000 after purchasing an additional 801 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new position in shares of AeroVironment in the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Price Performance

Shares of AVAV opened at $194.50 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. AeroVironment, Inc. has a 1-year low of $116.51 and a 1-year high of $236.60. The stock has a market cap of $5.49 billion, a PE ratio of 91.31 and a beta of 0.49. The firm has a fifty day moving average price of $208.67 and a 200 day moving average price of $194.23.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. The firm had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The business’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 3.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AVAV shares. Jefferies Financial Group upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and cut their target price for the stock from $240.00 to $230.00 in a research note on Wednesday, November 20th. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. BTIG Research reiterated a “buy” rating and set a $245.00 target price on shares of AeroVironment in a research note on Tuesday, September 17th. Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and raised their price target for the company from $161.00 to $220.00 in a research note on Wednesday, August 28th. Finally, Alembic Global Advisors raised AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a research report on Wednesday, August 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $211.83.

Insider Transactions at AeroVironment

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total transaction of $77,703.12. Following the completion of the sale, the chief financial officer now owns 18,254 shares in the company, valued at approximately $3,581,799.88. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 1,782 shares of company stock worth $372,615. Insiders own 1.27% of the company’s stock.

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.