AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 12,500 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $107.76, for a total transaction of $1,347,000.00. Following the completion of the sale, the chairman now directly owns 45,115 shares of the company’s stock, valued at $4,861,592.40.
The sale was disclosed in a filing with the SEC, which is available here.
Shares of AVAV traded up $1.28 during trading hours on Wednesday, reaching $108.62. The company’s stock had a trading volume of 114,493 shares, compared to its average volume of 230,956. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 87.60 and a beta of 0.35. AeroVironment, Inc. has a 1-year low of $59.13 and a 1-year high of $143.71. The company has a 50 day moving average of $109.44 and a two-hundred day moving average of $106.12.
AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, March 9th. The aerospace company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.13. The company had revenue of $78.78 million for the quarter, compared to the consensus estimate of $75.83 million. AeroVironment had a return on equity of 8.43% and a net margin of 7.58%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Equities research analysts anticipate that AeroVironment, Inc. will post 1.87 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of AVAV. Norges Bank acquired a new position in shares of AeroVironment in the 4th quarter valued at about $21,502,000. ARK Investment Management LLC increased its holdings in AeroVironment by 37.9% in the first quarter. ARK Investment Management LLC now owns 560,739 shares of the aerospace company’s stock worth $65,079,000 after buying an additional 154,013 shares during the last quarter. BlackRock Inc. increased its holdings in AeroVironment by 4.1% in the first quarter. BlackRock Inc. now owns 3,586,262 shares of the aerospace company’s stock worth $416,221,000 after buying an additional 140,196 shares during the last quarter. Citigroup Inc. increased its holdings in AeroVironment by 38.5% in the fourth quarter. Citigroup Inc. now owns 276,444 shares of the aerospace company’s stock worth $24,023,000 after buying an additional 76,825 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in AeroVironment by 18.4% during the first quarter. Loomis Sayles & Co. L P now owns 443,061 shares of the aerospace company’s stock valued at $51,422,000 after purchasing an additional 68,985 shares during the last quarter. Institutional investors own 74.60% of the company’s stock.
AVAV has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, May 12th. TheStreet lowered shares of AeroVironment from a “b-” rating to a “c” rating in a research note on Tuesday, March 9th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of AeroVironment in a research note on Sunday, March 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AeroVironment currently has an average rating of “Buy” and an average price target of $111.50.
Source: MarketBeat