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

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) CEO Wahid Nawabi sold 29,366 shares of the company'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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this link.

AeroVironment Stock Performance

AeroVironment stock traded down $2.66 during trading hours on Friday, hitting $120.93. The stock had a trading volume of 320,470 shares, compared to its average volume of 396,025. AeroVironment, Inc. has a fifty-two week low of $110.07 and a fifty-two week high of $236.60. The company has a market cap of $3.41 billion, a PE ratio of 69.50 and a beta of 0.42. The company has a 50-day moving average of $152.40 and a two-hundred day moving average of $176.56. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On AeroVironment

A number of hedge funds and other institutional investors have recently made changes to their positions in AVAV. CoreCap Advisors LLC raised its position in AeroVironment by 120.2% in the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after purchasing an additional 101 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of AeroVironment in the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of AeroVironment in the 4th quarter worth approximately $31,000. Colonial Trust Advisors bought a new position in shares of AeroVironment during the 4th quarter worth approximately $31,000. Finally, Accredited Wealth Management LLC acquired a new stake in AeroVironment in the 4th quarter valued at $31,000. 86.38% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird dropped their price target on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock 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 investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AeroVironment presently has a consensus rating of "Buy" and a consensus target price 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.