2,624 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Bought by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in AeroVironment, Inc. (NASDAQ:AVAV) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,624 shares of the aerospace company’s stock, valued at approximately $404,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in AeroVironment by 299.4% in the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after acquiring an additional 3,614 shares during the period. Congress Asset Management Co. lifted its stake in AeroVironment by 10.9% in the fourth quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock worth $51,275,000 after acquiring an additional 32,663 shares during the period. Principal Financial Group Inc. lifted its stake in AeroVironment by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock worth $21,029,000 after acquiring an additional 4,107 shares during the period. Fisher Asset Management LLC lifted its stake in AeroVironment by 63.0% in the fourth quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company’s stock worth $33,518,000 after acquiring an additional 84,170 shares during the period. Finally, Truist Financial Corp purchased a new stake in AeroVironment in the fourth quarter worth $776,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Price Performance

AVAV opened at $125.01 on Monday. The stock has a 50-day moving average price of $156.36 and a 200-day moving average price of $178.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The firm has a market cap of $3.53 billion, a PE ratio of 71.84 and a beta of 0.42. AeroVironment, Inc. has a 1 year low of $110.07 and a 1 year high of $236.60.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVAV. Jefferies Financial Group lowered their price objective on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. William Blair reissued an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Robert W. Baird lowered their price objective on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $202.40.

AeroVironment 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.