Insider Selling: AeroVironment, Inc. (NASDAQ:AVAV) Chairman Sells 7,600 Shares of Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $38.19, for a total value of $290,244.00. Following the completion of the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,220,290.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AeroVironment, Inc. (NASDAQ:AVAV) opened at 38.30 on Friday. AeroVironment, Inc. has a 12 month low of $22.16 and a 12 month high of $40.10. The firm has a market capitalization of $891.13 million, a P/E ratio of 70.93 and a beta of 1.31. The stock’s 50 day moving average price is $34.58 and its 200 day moving average price is $29.48.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.31. The firm had revenue of $125.40 million for the quarter, compared to analysts’ expectations of $122.90 million. AeroVironment had a net margin of 4.71% and a return on equity of 3.49%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, analysts forecast that AeroVironment, Inc. will post $0.54 earnings per share for the current year.

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A number of equities analysts have commented on AVAV shares. Canaccord Genuity restated a “hold” rating and issued a $29.00 target price on shares of AeroVironment in a research note on Friday, April 7th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 target price on shares of AeroVironment in a research note on Tuesday, April 18th. ValuEngine upgraded AeroVironment from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Friday, June 30th. Finally, TheStreet upgraded AeroVironment from a “c-” rating to a “b” rating in a research report on Tuesday, June 27th. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.80.

A number of hedge funds have recently modified their holdings of AVAV. Essex Investment Management Co. LLC purchased a new stake in shares of AeroVironment during the first quarter valued at $1,309,000. Granite Investment Partners LLC boosted its stake in shares of AeroVironment by 11.4% in the first quarter. Granite Investment Partners LLC now owns 332,807 shares of the aerospace company’s stock valued at $9,329,000 after buying an additional 34,127 shares in the last quarter. American Capital Management Inc. boosted its stake in shares of AeroVironment by 11.3% in the first quarter. American Capital Management Inc. now owns 1,179,552 shares of the aerospace company’s stock valued at $33,063,000 after buying an additional 120,140 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of AeroVironment by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock valued at $235,000 after buying an additional 100 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC purchased a new stake in shares of AeroVironment during the first quarter valued at $230,000. 81.70% 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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