Atria Wealth Solutions Inc. Acquires New Position in AeroVironment, Inc. (NASDAQ:AVAV)

Atria Wealth Solutions Inc. acquired a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,732 shares of the aerospace company’s stock, valued at approximately $326,000.

Other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC grew its position in shares of AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock valued at $28,000 after buying an additional 101 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in shares of AeroVironment during the 4th quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB grew its position in shares of AeroVironment by 171.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock valued at $29,000 after buying an additional 154 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in shares of AeroVironment during the 1st quarter valued at about $36,000. Finally, Signaturefd LLC grew its position in shares of AeroVironment by 56.1% during the 1st quarter. Signaturefd LLC now owns 398 shares of the aerospace company’s stock valued at $47,000 after buying an additional 143 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Down 1.2%

AVAV stock opened at $246.65 on Friday. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $295.90. The firm has a market cap of $12.32 billion, a PE ratio of 159.13 and a beta of 0.99. The firm has a 50 day simple moving average of $243.04 and a 200 day simple moving average of $183.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 2.69.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $275.05 million during the quarter, compared to the consensus estimate of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Equities research analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of AeroVironment in a research report on Monday, June 30th. They set a “buy” rating and a $301.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of AeroVironment in a research report on Monday, August 11th. They issued a “buy” rating and a $305.00 target price for the company. Wedbush upgraded shares of AeroVironment to an “outperform” rating in a research report on Wednesday, June 25th. Stifel Nicolaus assumed coverage on shares of AeroVironment in a research report on Tuesday, June 24th. They issued a “buy” rating and a $240.00 target price for the company. Finally, Citigroup assumed coverage on shares of AeroVironment in a research report on Monday, August 4th. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AeroVironment presently has an average rating of “Buy” and a consensus target price of $285.33.

Insider Activity at AeroVironment

In related news, CEO Wahid Nawabi sold 17,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total value of $4,550,765.00. Following the completion of the sale, the chief executive officer owned 122,233 shares in the company, valued at approximately $32,153,390.65. This represents a 12.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.27% of the company’s stock.

About AeroVironment

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.