AeroVironment, Inc. (NASDAQ:AVAV) CEO Sells $3,764,721.20 in Stock

AeroVironment, Inc. (NASDAQ:AVAV) CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at approximately $14,765,306.80. This represents a 20.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AeroVironment Stock Down 2.2 %

NASDAQ:AVAV opened at $120.93 on Friday. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $152.40 and a 200-day moving average of $176.64. The firm has a market capitalization of $3.41 billion, a PE ratio of 69.50 and a beta of 0.42. AeroVironment, Inc. has a 52 week low of $110.07 and a 52 week high of $236.60.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in AeroVironment by 299.4% in the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock valued at $1,037,000 after buying an additional 3,614 shares during the last quarter. Congress Asset Management Co. lifted its position in AeroVironment by 10.9% in the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock valued at $51,275,000 after purchasing an additional 32,663 shares during the last quarter. Cibc World Markets Corp bought a new stake in AeroVironment in the 4th quarter valued at about $404,000. Principal Financial Group Inc. boosted its stake in AeroVironment by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock valued at $21,029,000 after purchasing an additional 4,107 shares during the period. Finally, Fisher Asset Management LLC grew its position in AeroVironment by 63.0% in the 4th 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.

Analyst Upgrades and Downgrades

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

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.