BNP Paribas Financial Markets Sells 46,777 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

BNP Paribas Financial Markets trimmed its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 51.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,169 shares of the aerospace company's stock after selling 46,777 shares during the period. BNP Paribas Financial Markets owned about 0.16% of AeroVironment worth $6,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC purchased a new position in AeroVironment in the 1st quarter valued at about $249,000. North Star Investment Management Corp. increased its stake in shares of AeroVironment by 8.8% during the 1st quarter. North Star Investment Management Corp. now owns 1,268 shares of the aerospace company's stock valued at $194,000 after acquiring an additional 103 shares during the last quarter. Norden Group LLC acquired a new position in shares of AeroVironment during the 1st quarter valued at about $557,000. Van ECK Associates Corp increased its stake in shares of AeroVironment by 298.8% during the 1st quarter. Van ECK Associates Corp now owns 61,485 shares of the aerospace company's stock valued at $9,424,000 after acquiring an additional 46,069 shares during the last quarter. Finally, Outfitter Financial LLC acquired a new position in shares of AeroVironment during the 1st quarter valued at about $671,000. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Stock Performance

AVAV traded down $0.11 during trading hours on Thursday, hitting $175.34. 286,847 shares of the stock were exchanged, compared to its average volume of 357,221. The stock has a 50-day simple moving average of $192.60 and a 200-day simple moving average of $156.83. AeroVironment, Inc. has a 12 month low of $91.00 and a 12 month high of $224.00. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 79.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.56 and a quick ratio of 2.52.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Wednesday, June 26th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.21. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The firm had revenue of $197.00 million for the quarter, compared to analysts' expectations of $188.48 million. During the same period last year, the business posted $0.99 earnings per share. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. Analysts anticipate that AeroVironment, Inc. will post 3.41 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Patrick Mcdonnell sold 511 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $178.45, for a total transaction of $91,187.95. Following the transaction, the chief financial officer now directly owns 21,334 shares of the company's stock, valued at $3,807,052.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin Patrick Mcdonnell sold 511 shares of AeroVironment stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $178.45, for a total transaction of $91,187.95. Following the transaction, the chief financial officer now directly owns 21,334 shares of the company's stock, valued at $3,807,052.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Wahid Nawabi sold 9,867 shares of AeroVironment stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $169.23, for a total value of $1,669,792.41. Following the transaction, the chief executive officer now directly owns 99,892 shares in the company, valued at $16,904,723.16. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AVAV shares. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of AeroVironment in a research report on Thursday, June 27th. BTIG Research assumed coverage on shares of AeroVironment in a research report on Wednesday, June 26th. They set a "buy" rating and a $255.00 target price for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, AeroVironment currently has an average rating of "Moderate Buy" and an average price target of $175.20.

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.