AeroVironment, Inc. (NASDAQ:AVAV) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC raised its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 87.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,580 shares of the aerospace company’s stock after buying an additional 3,995 shares during the quarter. Penserra Capital Management LLC’s holdings in AeroVironment were worth $1,720,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AVAV. Security National Bank bought a new stake in AeroVironment in the 3rd quarter valued at about $31,000. Canada Pension Plan Investment Board bought a new stake in shares of AeroVironment during the second quarter valued at approximately $36,000. Avior Wealth Management LLC boosted its position in shares of AeroVironment by 51.0% during the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock worth $79,000 after buying an additional 133 shares during the period. Arcadia Investment Management Corp MI grew its holdings in AeroVironment by 23.1% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock worth $80,000 after buying an additional 75 shares in the last quarter. Finally, NBC Securities Inc. increased its position in AeroVironment by 47.4% in the 3rd quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 86.38% of the company’s stock.

AeroVironment Price Performance

Shares of NASDAQ AVAV opened at $193.11 on Tuesday. AeroVironment, Inc. has a twelve month low of $116.51 and a twelve month high of $236.60. The company has a current ratio of 4.26, a quick ratio of 3.04 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $207.68 and a two-hundred day moving average of $194.20. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 90.66 and a beta of 0.49.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.61 by $0.28. The business had revenue of $189.48 million during the quarter, compared to analyst estimates of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 earnings per share. As a group, analysts expect that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total value of $77,703.12. Following the transaction, the chief financial officer now directly owns 18,254 shares of the company’s stock, valued at $3,581,799.88. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 1,782 shares of company stock worth $372,615. Insiders own 1.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. 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 note on Wednesday, August 28th. Royal Bank of Canada decreased their target price on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $161.00 to $220.00 in a research report on Wednesday, August 28th. Raymond James cut shares of AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Finally, BTIG Research reiterated a “buy” rating and set a $245.00 price objective on shares of AeroVironment in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $211.83.

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.