Prudential Financial Inc. Sells 631 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Prudential Financial Inc. decreased its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,308 shares of the aerospace company’s stock after selling 631 shares during the period. Prudential Financial Inc.’s holdings in AeroVironment were worth $4,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Modus Advisors LLC bought a new stake in AeroVironment during the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in AeroVironment during the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB boosted its stake in AeroVironment by 1,515.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 197 shares in the last quarter. Bogart Wealth LLC purchased a new stake in shares of AeroVironment in the 4th quarter worth approximately $38,000. Finally, Blue Trust Inc. boosted its holdings in AeroVironment by 2,950.0% in the fourth quarter. Blue Trust Inc. now owns 305 shares of the aerospace company’s stock worth $47,000 after acquiring an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Analyst Ratings Changes

AVAV has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Robert W. Baird reduced their price target on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Finally, William Blair restated an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $202.40.

Insider Transactions at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at approximately $14,765,306.80. This represents a 20.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.27% of the company’s stock.

AeroVironment Price Performance

Shares of AeroVironment stock opened at $119.19 on Tuesday. The stock’s fifty day moving average is $151.41 and its 200 day moving average is $176.10. AeroVironment, Inc. has a one year low of $110.07 and a one year high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The stock has a market cap of $3.36 billion, a P/E ratio of 68.50 and a beta of 0.42.

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.