Insider Selling: AeroVironment, Inc. (NASDAQ:AVAV) Chairman Sells 12,500 Shares of Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 12,500 shares of AeroVironment stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $111.88, for a total transaction of $1,398,500.00. Following the sale, the chairman now directly owns 45,115 shares of the company’s stock, valued at approximately $5,047,466.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of AVAV stock opened at $109.75 on Tuesday. The stock’s 50 day simple moving average is $114.33 and its 200 day simple moving average is $102.72. AeroVironment, Inc. has a twelve month low of $57.61 and a twelve month high of $143.71. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 92.23 and a beta of 0.58.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Tuesday, March 9th. The aerospace company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.01 by $0.13. The company had revenue of $78.78 million for the quarter, compared to the consensus estimate of $75.83 million. AeroVironment had a return on equity of 7.85% and a net margin of 7.59%. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. Sell-side analysts predict that AeroVironment, Inc. will post 1.87 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of AeroVironment by 1.6% in the fourth quarter. BlackRock Inc. now owns 3,446,066 shares of the aerospace company’s stock valued at $299,463,000 after purchasing an additional 55,115 shares during the last quarter. Baillie Gifford & Co. grew its holdings in AeroVironment by 0.6% in the 4th quarter. Baillie Gifford & Co. now owns 918,020 shares of the aerospace company’s stock valued at $79,775,000 after buying an additional 5,059 shares during the last quarter. Bank of New York Mellon Corp increased its position in AeroVironment by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 471,726 shares of the aerospace company’s stock worth $40,993,000 after buying an additional 1,328 shares during the period. Citigroup Inc. lifted its holdings in shares of AeroVironment by 38.5% during the fourth quarter. Citigroup Inc. now owns 276,444 shares of the aerospace company’s stock worth $24,023,000 after buying an additional 76,825 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its stake in shares of AeroVironment by 2.0% in the fourth quarter. Vident Investment Advisory LLC now owns 272,248 shares of the aerospace company’s stock worth $23,658,000 after acquiring an additional 5,315 shares during the last quarter. 76.22% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on AVAV. Stifel Nicolaus lowered AeroVironment from a “buy” rating to a “hold” rating and increased their price objective for the stock from $103.00 to $120.00 in a report on Friday, January 15th. Robert W. Baird reiterated a “buy” rating on shares of AeroVironment in a report on Sunday, March 7th. Zacks Investment Research cut AeroVironment from a “buy” rating to a “hold” rating in a research note on Tuesday, March 16th. TheStreet lowered shares of AeroVironment from a “b-” rating to a “c” rating in a research report on Tuesday, March 9th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $100.00 target price on shares of AeroVironment in a research report on Thursday, January 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. AeroVironment currently has a consensus rating of “Buy” and an average target price of $117.50.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company supplies 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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Insider Buying and Selling by Quarter for AeroVironment (NASDAQ:AVAV)

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