Cubist Systematic Strategies LLC decreased its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 69.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,601 shares of the aerospace company’s stock after selling 3,559 shares during the period. Cubist Systematic Strategies LLC’s holdings in AeroVironment were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in shares of AeroVironment during the 2nd quarter valued at approximately $111,000. Sei Investments Co. purchased a new position in shares of AeroVironment during the 1st quarter valued at approximately $100,000. PNC Financial Services Group Inc. lifted its position in shares of AeroVironment by 113.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the aerospace company’s stock valued at $181,000 after buying an additional 1,342 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of AeroVironment during the 2nd quarter valued at approximately $203,000. Finally, OppenheimerFunds Inc. purchased a new position in shares of AeroVironment during the 2nd quarter valued at approximately $223,000. Hedge funds and other institutional investors own 82.17% of the company’s stock.
Shares of AVAV stock opened at $92.69 on Friday. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 85.63, a PEG ratio of 5.12 and a beta of 1.16. AeroVironment, Inc. has a fifty-two week low of $41.53 and a fifty-two week high of $121.32.
AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Wednesday, September 5th. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.79. The company had revenue of $78.04 million for the quarter, compared to analyst estimates of $73.65 million. AeroVironment had a return on equity of 10.71% and a net margin of 15.56%. The firm’s revenue for the quarter was up 127.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. As a group, equities research analysts forecast that AeroVironment, Inc. will post 1.1 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. BidaskClub lowered AeroVironment from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a research report on Friday, September 7th. Canaccord Genuity increased their target price on AeroVironment from $60.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, September 6th. Piper Jaffray Companies reiterated a “neutral” rating and set a $77.00 target price on shares of AeroVironment in a research report on Thursday, September 6th. Finally, Robert W. Baird increased their target price on AeroVironment from $52.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, August 28th. Six analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $83.20.
AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.
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