243,694 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Purchased by Norges Bank

Norges Bank bought a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the 4th quarter, HoldingsChannel reports. The fund bought 243,694 shares of the aerospace company’s stock, valued at approximately $37,502,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC increased its stake in shares of AeroVironment by 28.5% in the 3rd quarter. Cerity Partners LLC now owns 2,225 shares of the aerospace company’s stock valued at $446,000 after purchasing an additional 494 shares during the last quarter. Benjamin Edwards Inc. bought a new position in AeroVironment in the third quarter valued at about $658,000. Centiva Capital LP acquired a new position in AeroVironment during the third quarter worth about $582,000. HighTower Advisors LLC lifted its holdings in shares of AeroVironment by 24.6% in the third quarter. HighTower Advisors LLC now owns 8,240 shares of the aerospace company’s stock worth $1,655,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of AeroVironment by 93.8% in the 3rd quarter. Stifel Financial Corp now owns 11,030 shares of the aerospace company’s stock valued at $2,212,000 after purchasing an additional 5,339 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

AVAV has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Robert W. Baird dropped their price target on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their price objective on AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One equities research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $202.40.

AeroVironment Price Performance

Shares of NASDAQ:AVAV opened at $111.65 on Friday. The firm has a market cap of $3.15 billion, a PE ratio of 64.17 and a beta of 0.74. AeroVironment, Inc. has a 52 week low of $110.07 and a 52 week high of $236.60. The firm’s fifty day moving average is $146.62 and its 200-day moving average is $174.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

AeroVironment Company 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.