AeroVironment, Inc. (NASDAQ:AVAV) CEO Wahid Nawabi Sells 29,366 Shares of Stock

AeroVironment, Inc. (NASDAQ:AVAV) CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. This represents a 20.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

AeroVironment Stock Down 4.0 %

Shares of NASDAQ:AVAV opened at $126.00 on Thursday. AeroVironment, Inc. has a fifty-two week low of $110.07 and a fifty-two week high of $236.60. The firm’s 50 day moving average price is $154.19 and its 200 day moving average price is $177.43. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 72.41 and a beta of 0.42.

Analyst Ratings Changes

AVAV has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Jefferies Financial Group cut their target price on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Robert W. Baird reduced their target price on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AeroVironment currently has a consensus rating of “Buy” and a consensus target price of $202.40.

Institutional Investors Weigh In On AeroVironment

A number of hedge funds and other institutional investors have recently modified their holdings of AVAV. Franklin Resources Inc. grew its stake in shares of AeroVironment by 299.4% during the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after purchasing an additional 3,614 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of AeroVironment by 10.9% during the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock worth $51,275,000 after acquiring an additional 32,663 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of AeroVironment in the 4th quarter valued at about $404,000. Principal Financial Group Inc. raised its position in shares of AeroVironment by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock worth $21,029,000 after acquiring an additional 4,107 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in AeroVironment by 63.0% during the fourth quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company’s stock worth $33,518,000 after purchasing an additional 84,170 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.