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

AeroVironment, Inc. (NASDAQ:AVAV) CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AeroVironment Stock Down 1.9 %

NASDAQ:AVAV opened at $123.59 on Friday. The company’s 50-day simple moving average is $153.36 and its 200-day simple moving average is $177.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. AeroVironment, Inc. has a fifty-two week low of $110.07 and a fifty-two week high of $236.60. The stock has a market capitalization of $3.49 billion, a P/E ratio of 71.03 and a beta of 0.42.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Robert W. Baird cut their price target on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $202.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of AeroVironment during the third quarter valued at $262,000. Charles Schwab Investment Management Inc. grew its position in AeroVironment by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 256,688 shares of the aerospace company’s stock valued at $51,466,000 after buying an additional 9,921 shares during the period. Citigroup Inc. grew its position in shares of AeroVironment by 25.9% during the 3rd quarter. Citigroup Inc. now owns 72,232 shares of the aerospace company’s stock valued at $14,483,000 after acquiring an additional 14,874 shares during the period. Cerity Partners LLC grew its holdings in AeroVironment by 28.5% in the third quarter. Cerity Partners LLC now owns 2,225 shares of the aerospace company’s stock valued at $446,000 after purchasing an additional 494 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in AeroVironment by 87.1% in the 3rd quarter. Penserra Capital Management LLC now owns 8,580 shares of the aerospace company’s stock worth $1,720,000 after acquiring an additional 3,995 shares in the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

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.