KRS Capital Management LLC Acquires New Shares in AeroVironment, Inc. $AVAV

KRS Capital Management LLC acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the second quarter, Holdings Channel reports. The fund acquired 757 shares of the aerospace company’s stock, valued at approximately $216,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. lifted its holdings in AeroVironment by 48.2% in the first quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company’s stock valued at $107,606,000 after acquiring an additional 293,553 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in AeroVironment by 41.0% during the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock worth $91,000,000 after purchasing an additional 221,948 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AeroVironment by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,486 shares of the aerospace company’s stock worth $54,409,000 after purchasing an additional 33,169 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in AeroVironment by 281.6% during the first quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company’s stock worth $51,288,000 after purchasing an additional 317,530 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in AeroVironment by 6.7% during the first quarter. ARK Investment Management LLC now owns 281,323 shares of the aerospace company’s stock worth $33,531,000 after purchasing an additional 17,696 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AVAV. Robert W. Baird upped their price target on AeroVironment from $267.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. KeyCorp began coverage on AeroVironment in a research note on Sunday, June 29th. They set an “overweight” rating on the stock. Wedbush upgraded AeroVironment to an “outperform” rating in a research note on Wednesday, June 25th. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Tuesday, September 16th. Finally, Canaccord Genuity Group upped their price target on AeroVironment from $305.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $356.07.

AeroVironment Stock Down 2.3%

AeroVironment stock opened at $398.29 on Friday. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $417.86. The stock’s fifty day simple moving average is $274.70 and its 200-day simple moving average is $217.91. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $19.89 billion, a P/E ratio of -622.32, a P/E/G ratio of 6.91 and a beta of 0.99.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%.The business had revenue of $132.62 million for the quarter. As a group, equities analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling at AeroVironment

In related news, CEO Wahid Nawabi sold 17,300 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total value of $4,550,765.00. Following the transaction, the chief executive officer owned 122,233 shares of the company’s stock, valued at $32,153,390.65. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Trace E. Stevenson sold 1,717 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total value of $654,177.00. Following the completion of the transaction, the insider directly owned 4,907 shares in the company, valued at $1,869,567. This trade represents a 25.92% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

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.