Congress Asset Management Co. Has $43.30 Million Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Congress Asset Management Co. grew its position in AeroVironment, Inc. (NASDAQ:AVAV) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 363,316 shares of the aerospace company’s stock after purchasing an additional 30,123 shares during the period. Congress Asset Management Co.’s holdings in AeroVironment were worth $43,304,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Redwood Investments LLC raised its holdings in AeroVironment by 0.7% in the 4th quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company’s stock valued at $1,427,000 after acquiring an additional 66 shares in the last quarter. Arizona State Retirement System increased its holdings in AeroVironment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company’s stock valued at $1,257,000 after purchasing an additional 68 shares in the last quarter. Mackenzie Financial Corp increased its holdings in AeroVironment by 5.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,601 shares of the aerospace company’s stock valued at $246,000 after purchasing an additional 83 shares in the last quarter. New York State Teachers Retirement System increased its holdings in AeroVironment by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company’s stock valued at $2,711,000 after purchasing an additional 100 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in 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 purchasing an additional 101 shares in the last quarter. Institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Performance

AVAV stock opened at $190.89 on Friday. The business’s 50-day moving average price is $155.54 and its two-hundred day moving average price is $157.90. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $236.60. The firm has a market cap of $5.39 billion, a PE ratio of 109.71 and a beta of 0.81. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James upgraded AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective on the stock in a research report on Tuesday, April 8th. Robert W. Baird raised their price target on AeroVironment from $146.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $190.00 price target on shares of AeroVironment in a research report on Monday, May 12th. William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AeroVironment presently has an average rating of “Buy” and a consensus target price of $208.50.

Insider Buying and Selling at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $14,765,306.80. The trade was a 20.32% decrease in their ownership of the stock. The transaction 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.

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.