AeroVironment, Inc. (NASDAQ:AVAV) CEO Wahid Nawabi Sells 29,366 Shares

AeroVironment, Inc. (NASDAQ:AVAV) CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. The trade was a 20.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

AeroVironment Price Performance

NASDAQ:AVAV traded down $5.20 during trading hours on Wednesday, reaching $126.00. 316,906 shares of the company traded hands, compared to its average volume of 389,817. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The stock has a market cap of $3.56 billion, a P/E ratio of 72.41 and a beta of 0.42. AeroVironment, Inc. has a 1-year low of $110.07 and a 1-year high of $236.60. The firm’s 50-day moving average is $155.02 and its 200-day moving average is $177.80.

Institutional Investors Weigh In On AeroVironment

A number of hedge funds and other institutional investors have recently modified their holdings of AVAV. Redwood Investments LLC grew its position in shares of AeroVironment by 0.7% in the fourth quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company’s stock valued at $1,427,000 after purchasing an additional 66 shares during the period. Arizona State Retirement System increased its stake in AeroVironment by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company’s stock worth $1,257,000 after acquiring an additional 68 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of AeroVironment by 5.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,601 shares of the aerospace company’s stock worth $246,000 after purchasing an additional 83 shares during the period. New York State Teachers Retirement System lifted its stake in shares of AeroVironment by 0.6% in the 4th quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company’s stock valued at $2,711,000 after purchasing an additional 100 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 101 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About AeroVironment

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.