Allspring Global Investments Holdings LLC Raises Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Allspring Global Investments Holdings LLC lifted its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 29.6% in the second quarter, HoldingsChannel reports. The firm owned 27,259 shares of the aerospace company’s stock after purchasing an additional 6,219 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AeroVironment were worth $4,965,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Baillie Gifford & Co. grew its stake in shares of AeroVironment by 132.7% in the 2nd quarter. Baillie Gifford & Co. now owns 1,511,676 shares of the aerospace company’s stock worth $275,367,000 after buying an additional 861,962 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AeroVironment by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 3,094,831 shares of the aerospace company’s stock valued at $474,376,000 after acquiring an additional 179,395 shares during the last quarter. Victory Capital Management Inc. grew its position in AeroVironment by 3,565.5% in the fourth quarter. Victory Capital Management Inc. now owns 171,288 shares of the aerospace company’s stock worth $21,589,000 after acquiring an additional 166,615 shares in the last quarter. International Assets Investment Management LLC bought a new stake in AeroVironment during the fourth quarter worth approximately $20,287,000. Finally, Wellington Management Group LLP raised its position in AeroVironment by 187.5% during the fourth quarter. Wellington Management Group LLP now owns 221,749 shares of the aerospace company’s stock valued at $27,949,000 after purchasing an additional 144,628 shares during the period. Institutional investors own 86.38% of the company’s stock.

Insiders Place Their Bets

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 511 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $178.45, for a total value of $91,187.95. Following the completion of the sale, the chief financial officer now directly owns 21,334 shares in the company, valued at approximately $3,807,052.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Wahid Nawabi sold 9,867 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the transaction, the chief executive officer now directly owns 99,892 shares in the company, valued at $16,904,723.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Patrick Mcdonnell sold 511 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $178.45, for a total transaction of $91,187.95. Following the completion of the transaction, the chief financial officer now directly owns 21,334 shares of the company’s stock, valued at approximately $3,807,052.30. The disclosure for this sale can be found here. Insiders have sold 10,891 shares of company stock worth $1,850,601 in the last ninety days. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

AVAV has been the subject of a number of recent research reports. Alembic Global Advisors upgraded AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 target price for the company in a report on Wednesday. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. BTIG Research began coverage on shares of AeroVironment in a report on Wednesday, June 26th. They issued a “buy” rating and a $255.00 target price for the company. Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and upped their price target for the company from $161.00 to $220.00 in a report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of AeroVironment in a research note on Thursday, June 27th. 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 MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $207.20.

AeroVironment Trading Up 0.1 %

AVAV stock opened at $203.76 on Friday. AeroVironment, Inc. has a 12 month low of $93.94 and a 12 month high of $224.00. The firm’s 50-day moving average is $177.63 and its 200 day moving average is $170.82. The company has a market capitalization of $5.73 billion, a PE ratio of 91.78 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.56 and a quick ratio of 2.52.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Wednesday, June 26th. The aerospace company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.21. AeroVironment had a net margin of 8.32% and a return on equity of 10.89%. The business had revenue of $197.00 million for the quarter, compared to the consensus estimate of $188.48 million. During the same period in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that AeroVironment, Inc. will post 3.41 EPS for the current year.

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.