Insider Selling: AeroVironment, Inc. (AVAV) Chairman Sells 20,000 Shares of Stock
AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $30.33, for a total transaction of $606,600.00. Following the completion of the sale, the chairman now owns 66,621 shares of the company’s stock, valued at approximately $2,020,614.93. The transaction was disclosed in a document filed with the SEC, which is available at this link.
AeroVironment, Inc. (NASDAQ:AVAV) traded up 1.98% during midday trading on Monday, reaching $31.46. 161,235 shares of the company’s stock traded hands. The stock has a 50-day moving average of $28.92 and a 200 day moving average of $27.43. The company’s market cap is $726.16 million. AeroVironment, Inc. has a 52-week low of $22.16 and a 52-week high of $32.44.
AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, March 7th. The aerospace company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.25. The firm had revenue of $53.20 million during the quarter, compared to analysts’ expectations of $50.66 million. AeroVironment had a negative net margin of 1.80% and a negative return on equity of 1.21%. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, analysts anticipate that AeroVironment, Inc. will post $0.21 earnings per share for the current fiscal year.
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AVAV has been the subject of several research reports. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price objective on shares of AeroVironment in a research report on Tuesday, April 18th. Canaccord Genuity restated a “hold” rating and issued a $29.00 price objective on shares of AeroVironment in a research report on Friday, April 7th. Finally, Zacks Investment Research upgraded shares of AeroVironment from a “sell” rating to a “hold” rating in a research report on Wednesday, March 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz Asset Management AG boosted its position in AeroVironment by 116.7% in the fourth quarter. Allianz Asset Management AG now owns 73,786 shares of the aerospace company’s stock worth $1,980,000 after buying an additional 39,740 shares during the period. FMR LLC bought a new position in AeroVironment during the fourth quarter worth approximately $3,652,000. Dimensional Fund Advisors LP boosted its position in AeroVironment by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,616 shares of the aerospace company’s stock worth $35,915,000 after buying an additional 82,838 shares during the period. State Street Corp boosted its position in AeroVironment by 22.0% in the fourth quarter. State Street Corp now owns 576,013 shares of the aerospace company’s stock worth $15,451,000 after buying an additional 103,833 shares during the period. Finally, S Squared Technology LLC bought a new position in AeroVironment during the fourth quarter worth approximately $450,000. 72.97% of the stock is 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.
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