AeroVironment, Inc. (NASDAQ:AVAV) Chairman Sells $292,524.00 in Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $38.49, for a total value of $292,524.00. Following the completion of the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at $2,237,731.62. The sale was disclosed in a filing with the SEC, which is available at this link.

AeroVironment, Inc. (NASDAQ AVAV) opened at 38.31 on Friday. AeroVironment, Inc. has a one year low of $22.16 and a one year high of $40.10. The firm has a market cap of $891.36 million, a price-to-earnings ratio of 70.94 and a beta of 1.31. The stock’s 50 day moving average price is $37.62 and its 200-day moving average price is $30.80.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.31. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. The business had revenue of $125.40 million for the quarter, compared to analyst estimates of $122.90 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. AeroVironment’s revenue was up 47.9% on a year-over-year basis. Analysts forecast that AeroVironment, Inc. will post $0.54 earnings per share for the current year.

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Several brokerages recently issued reports on AVAV. Jefferies Group LLC increased their price objective on AeroVironment from $27.00 to $29.00 and gave the stock a “hold” rating in a research note on Wednesday, June 28th. TheStreet raised AeroVironment from a “c-” rating to a “b” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Friday, June 30th. Canaccord Genuity reissued a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research note on Thursday. Finally, BidaskClub downgraded AeroVironment from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.00.

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of AeroVironment by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,490,349 shares of the aerospace company’s stock worth $56,930,000 after buying an additional 44,670 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of AeroVironment during the second quarter worth $534,000. Parametric Portfolio Associates LLC increased its position in shares of AeroVironment by 12.9% in the second quarter. Parametric Portfolio Associates LLC now owns 26,962 shares of the aerospace company’s stock worth $1,030,000 after buying an additional 3,083 shares during the period. Suntrust Banks Inc. increased its position in shares of AeroVironment by 3.8% in the second quarter. Suntrust Banks Inc. now owns 9,224 shares of the aerospace company’s stock worth $352,000 after buying an additional 340 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of AeroVironment by 18.6% in the second quarter. ARK Investment Management LLC now owns 142,859 shares of the aerospace company’s stock worth $5,457,000 after buying an additional 22,407 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.

Insider Buying and Selling by Quarter for AeroVironment (NASDAQ:AVAV)

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