Insider Selling: AeroVironment, Inc. (AVAV) Chairman Sells $167,732.00 in Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total value of $167,732.00. Following the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,566,211.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of AeroVironment, Inc. (NASDAQ AVAV) traded down $0.83 during mid-day trading on Thursday, reaching $42.16. The company’s stock had a trading volume of 390,200 shares, compared to its average volume of 238,189. The stock has a market capitalization of $1,024.90, a P/E ratio of 51.18, a P/E/G ratio of 4.68 and a beta of 1.24. AeroVironment, Inc. has a 52 week low of $24.70 and a 52 week high of $55.75.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.15. The business had revenue of $43.80 million for the quarter, compared to the consensus estimate of $42.44 million. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) earnings per share. research analysts forecast that AeroVironment, Inc. will post 0.61 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/11/16/insider-selling-aerovironment-inc-avav-chairman-sells-167732-00-in-stock.html.

AVAV has been the topic of several analyst reports. BidaskClub lowered AeroVironment from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Canaccord Genuity increased their price target on AeroVironment from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Jefferies Group LLC increased their price target on AeroVironment from $29.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Robert W. Baird reiterated a “hold” rating and set a $35.00 price target on shares of AeroVironment in a research report on Monday, August 28th. Finally, ValuEngine downgraded AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, AeroVironment currently has a consensus rating of “Hold” and an average target price of $39.00.

Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in AeroVironment by 30.0% during the second quarter. Alliancebernstein L.P. now owns 24,671 shares of the aerospace company’s stock worth $942,000 after buying an additional 5,700 shares in the last quarter. Fisher Asset Management LLC purchased a new position in AeroVironment during the third quarter worth approximately $1,904,000. Citigroup Inc. lifted its position in AeroVironment by 28.9% during the second quarter. Citigroup Inc. now owns 25,980 shares of the aerospace company’s stock worth $992,000 after buying an additional 5,832 shares in the last quarter. BlackRock Inc. lifted its position in AeroVironment by 216,094.4% during the first quarter. BlackRock Inc. now owns 3,216,973 shares of the aerospace company’s stock worth $90,172,000 after buying an additional 3,215,485 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in AeroVironment by 7.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 98,396 shares of the aerospace company’s stock worth $3,759,000 after acquiring an additional 7,063 shares during the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

About AeroVironment

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)

Receive News & Ratings for AeroVironment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply