AeroVironment, Inc. (AVAV) Stake Lessened by Cubist Systematic Strategies LLC

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Cubist Systematic Strategies LLC lowered its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 69.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,601 shares of the aerospace company’s stock after selling 3,559 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in AeroVironment were worth $114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of AeroVironment during the second quarter valued at about $111,000. Bank of America Corp DE increased its holdings in AeroVironment by 81.4% in the 2nd quarter. Bank of America Corp DE now owns 32,310 shares of the aerospace company’s stock worth $2,308,000 after buying an additional 14,498 shares during the period. Natixis increased its holdings in AeroVironment by 4.9% in the 2nd quarter. Natixis now owns 56,700 shares of the aerospace company’s stock worth $4,050,000 after buying an additional 2,653 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in AeroVironment in the 2nd quarter worth approximately $485,000. Finally, Laurion Capital Management LP acquired a new position in AeroVironment in the 2nd quarter worth approximately $203,000. Hedge funds and other institutional investors own 82.17% of the company’s stock.

Several brokerages recently weighed in on AVAV. Stifel Nicolaus downgraded shares of AeroVironment from a “buy” rating to a “hold” rating and increased their price target for the stock from $65.00 to $70.00 in a report on Thursday, June 28th. Robert W. Baird increased their price target on shares of AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, August 28th. Canaccord Genuity increased their price target on shares of AeroVironment from $60.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, September 6th. BidaskClub downgraded shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd. Finally, Zacks Investment Research upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $77.00 price target on the stock in a report on Thursday, June 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.20.

Shares of NASDAQ:AVAV opened at $92.69 on Friday. AeroVironment, Inc. has a twelve month low of $41.53 and a twelve month high of $121.32. The company has a market capitalization of $2.68 billion, a P/E ratio of 85.63, a price-to-earnings-growth ratio of 5.12 and a beta of 1.16.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Wednesday, September 5th. The aerospace company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.79. The company had revenue of $78.04 million for the quarter, compared to the consensus estimate of $73.65 million. AeroVironment had a net margin of 15.56% and a return on equity of 10.71%. AeroVironment’s quarterly revenue was up 127.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. Analysts expect that AeroVironment, Inc. will post 1.1 earnings per share for the current year.

About AeroVironment

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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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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