Emerald Advisers LLC Cuts Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Emerald Advisers LLC reduced its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 1.7% during the fourth quarter, HoldingsChannel reports. The fund owned 214,010 shares of the aerospace company’s stock after selling 3,656 shares during the period. AeroVironment comprises approximately 1.3% of Emerald Advisers LLC’s holdings, making the stock its 22nd largest position. Emerald Advisers LLC’s holdings in AeroVironment were worth $32,934,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of AeroVironment during the fourth quarter valued at $46,789,000. Wellington Management Group LLP raised its stake in shares of AeroVironment by 155.1% in the third quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company’s stock worth $64,457,000 after buying an additional 195,443 shares during the period. Baillie Gifford & Co. raised its stake in shares of AeroVironment by 9.4% in the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company’s stock worth $328,598,000 after buying an additional 183,887 shares during the period. Stephens Investment Management Group LLC raised its stake in AeroVironment by 40.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company’s stock valued at $83,338,000 after purchasing an additional 154,703 shares during the period. Finally, Heard Capital LLC raised its stake in AeroVironment by 25.5% during the 3rd quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company’s stock valued at $118,723,000 after purchasing an additional 120,447 shares during the period. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Price Performance

Shares of AVAV stock opened at $125.01 on Friday. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 71.84 and a beta of 0.42. AeroVironment, Inc. has a twelve month low of $110.07 and a twelve month high of $236.60. The stock has a fifty day simple moving average of $156.36 and a two-hundred day simple moving average of $178.63.

Analyst Ratings Changes

Several equities analysts have weighed in on AVAV shares. Jefferies Financial Group cut their price target on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird cut their target price on AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. 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 company. According to MarketBeat.com, AeroVironment presently has a consensus rating of “Buy” and a consensus price target of $202.40.

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.