Insider Selling: AeroVironment, Inc. (AVAV) Chairman Sells 20,700 Shares of Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 20,700 shares of AeroVironment stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $76.43, for a total value of $1,582,101.00. Following the sale, the chairman now directly owns 55,659 shares of the company’s stock, valued at $4,254,017.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NASDAQ:AVAV opened at $75.87 on Friday. AeroVironment, Inc. has a 12-month low of $41.60 and a 12-month high of $121.32. The firm has a market capitalization of $1.80 billion, a PE ratio of 70.25, a P/E/G ratio of 2.46 and a beta of 1.35.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Thursday, November 29th. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.13. AeroVironment had a return on equity of 10.37% and a net margin of 15.31%. The business had revenue of $72.98 million for the quarter, compared to the consensus estimate of $74.54 million. During the same period last year, the business posted $0.29 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 1.22 earnings per share for the current fiscal year.



Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in AeroVironment by 3,574.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 614,301 shares of the aerospace company’s stock worth $68,903,000 after buying an additional 597,581 shares during the last quarter. Vanguard Group Inc. grew its stake in AeroVironment by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,628,986 shares of the aerospace company’s stock worth $294,894,000 after buying an additional 540,901 shares during the last quarter. Vanguard Group Inc grew its stake in AeroVironment by 25.9% during the 3rd quarter. Vanguard Group Inc now owns 2,628,986 shares of the aerospace company’s stock worth $294,894,000 after buying an additional 540,901 shares during the last quarter. BlackRock Inc. grew its stake in AeroVironment by 4.4% during the 4th quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock worth $261,777,000 after buying an additional 164,034 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in AeroVironment by 247.8% during the 3rd quarter. Renaissance Technologies LLC now owns 209,836 shares of the aerospace company’s stock worth $23,537,000 after buying an additional 149,500 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

A number of equities research analysts have weighed in on AVAV shares. BidaskClub raised AeroVironment from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. ValuEngine raised AeroVironment from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised AeroVironment from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, February 5th. William Blair started coverage on AeroVironment in a report on Thursday, January 24th. They issued an “outperform” rating and a $73.60 price target on the stock. Finally, Drexel Hamilton reiterated a “hold” rating on shares of AeroVironment in a report on Friday, November 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. AeroVironment has an average rating of “Hold” and a consensus price target of $76.77.

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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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