Pictet Asset Management Holding SA Grows Position in AeroVironment, Inc. (NASDAQ:AVAV)

Pictet Asset Management Holding SA grew its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 7.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,873 shares of the aerospace company’s stock after buying an additional 285 shares during the period. Pictet Asset Management Holding SA’s holdings in AeroVironment were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Franklin Resources Inc. raised its stake in shares of AeroVironment by 299.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock valued at $1,037,000 after purchasing an additional 3,614 shares during the period. Congress Asset Management Co. grew its holdings in AeroVironment by 10.9% during the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock valued at $51,275,000 after buying an additional 32,663 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of AeroVironment during the fourth quarter valued at about $404,000. Fisher Asset Management LLC lifted its holdings in shares of 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 buying an additional 84,170 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of AeroVironment by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock valued at $21,029,000 after acquiring an additional 4,107 shares during the period. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Insider Transactions at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction 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 $14,765,306.80. The trade was a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.27% of the company’s stock.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $121.03 on Wednesday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 69.56 and a beta of 0.74. The business has a 50 day moving average of $143.27 and a 200 day moving average of $173.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $236.60.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVAV. Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price on the stock in a research note on Tuesday. Jefferies Financial Group lowered 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. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Finally, 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 report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $202.00.

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.