Prospera Private Wealth LLC Acquires Shares of 6,859 AeroVironment, Inc. (NASDAQ:AVAV)

Prospera Private Wealth LLC purchased 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. The firm purchased 6,859 shares of the aerospace company’s stock, valued at approximately $1,375,000.

Other hedge funds have also added to or reduced their stakes in the company. Security National Bank purchased a new position in shares of AeroVironment during the third quarter valued at approximately $31,000. Canada Pension Plan Investment Board purchased a new position in AeroVironment during the 2nd quarter worth $36,000. Avior Wealth Management LLC grew its stake in shares of AeroVironment by 51.0% in the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 133 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of AeroVironment by 23.1% in the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock valued at $80,000 after purchasing an additional 75 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in shares of AeroVironment by 47.4% during the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.

Wall Street Analyst Weigh In

AVAV has been the subject of several analyst reports. Raymond James lowered shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. Alembic Global Advisors raised AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a research report on Wednesday, August 28th. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $161.00 to $220.00 in a research report on Wednesday, August 28th. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group downgraded shares of AeroVironment from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.50.

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 18,254 shares of the company’s stock, valued at approximately $3,581,799.88. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 1,782 shares of company stock worth $372,615. 1.27% of the stock is owned by corporate insiders.

AeroVironment Stock Down 1.1 %

Shares of NASDAQ AVAV opened at $194.89 on Wednesday. The business’s fifty day moving average price is $206.75 and its 200-day moving average price is $193.83. AeroVironment, Inc. has a one year low of $116.51 and a one year high of $236.60. The stock has a market capitalization of $5.50 billion, a PE ratio of 91.50 and a beta of 0.49. 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 (NASDAQ:AVAV) last posted its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The firm had revenue of $189.48 million during the quarter, compared to the consensus estimate of $183.18 million. During the same quarter last year, the company earned $1.00 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. On average, equities research analysts anticipate that AeroVironment, Inc. will post 3.36 EPS for the current year.

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.