Timothy E. Conver Sells 7,600 Shares of AeroVironment, Inc. (AVAV) Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $49.14, for a total transaction of $373,464.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,856,901.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

AeroVironment, Inc. (AVAV) opened at 48.95 on Wednesday. The firm has a market cap of $1.14 billion, a P/E ratio of 57.66 and a beta of 1.26. The stock’s 50 day moving average is $40.53 and its 200-day moving average is $33.21. AeroVironment, Inc. has a 1-year low of $22.16 and a 1-year high of $51.04.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.15. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The firm had revenue of $43.80 million during the quarter, compared to analyst estimates of $42.44 million. During the same period last year, the company posted ($0.51) EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. Analysts forecast that AeroVironment, Inc. will post $0.61 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in AeroVironment by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after acquiring an additional 38 shares during the period. Sei Investments Co. boosted its position in AeroVironment by 1.8% during the 2nd quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 61 shares during the period. Louisiana State Employees Retirement System boosted its position in AeroVironment by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock worth $235,000 after acquiring an additional 100 shares during the period. Arizona State Retirement System boosted its position in AeroVironment by 0.9% during the 1st quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock worth $300,000 after acquiring an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in AeroVironment by 3.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.

A number of research analysts have recently commented on the stock. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $36.00 price objective on shares of AeroVironment in a research note on Thursday, August 31st. Jefferies Group LLC upped their price objective on shares of AeroVironment from $29.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, August 30th. TheStreet raised shares of AeroVironment from a “c-” rating to a “b” rating in a research note on Tuesday, June 27th. Canaccord Genuity upped their price objective on shares of AeroVironment from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, August 30th. Finally, Zacks Investment Research raised shares of 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. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. AeroVironment presently has an average rating of “Hold” and an average target price of $38.00.

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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