AeroVironment (NASDAQ:AVAV) CFO Sells $398,940.52 in Stock

Key Points

• AeroVironment's CFO, Kevin Patrick Mcdonnell, sold 998 shares for approximately $398,940.52, reducing his total holdings by 4.91% to 19,324 shares.
• The company's stock experienced a decline, trading down to $401.63 with a significant market cap of $20.05 billion and a P/E ratio of -627.54.
• AeroVironment's quarterly earnings report showed $0.12 EPS with total revenue of $132.62 million and an anticipated EPS of 3.38 for the current year.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) CFO Kevin Patrick Mcdonnell sold 998 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $399.74, for a total transaction of $398,940.52. Following the transaction, the chief financial officer owned 19,324 shares of the company's stock, valued at $7,724,575.76. The trade was a 4.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AeroVironment Stock Performance

Shares of AVAV traded down $8.20 during midday trading on Tuesday, reaching $401.63. The stock had a trading volume of 735,823 shares, compared to its average volume of 904,150. The firm has a 50 day simple moving average of $280.18 and a 200-day simple moving average of $223.06. AeroVironment, Inc. has a one year low of $102.25 and a one year high of $417.86. The firm has a market cap of $20.05 billion, a PE ratio of -627.54, a P/E/G ratio of 6.65 and a beta of 0.99. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The company had revenue of $132.62 million during the quarter. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current year.

Hedge Funds Weigh In On AeroVironment

A number of hedge funds have recently bought and sold shares of AVAV. Vanguard Group Inc. increased its position in AeroVironment by 14.3% during the second quarter. Vanguard Group Inc. now owns 3,478,114 shares of the aerospace company's stock worth $991,089,000 after acquiring an additional 433,830 shares during the period. Ameriprise Financial Inc. increased its holdings in AeroVironment by 281.6% in the 1st quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company's stock valued at $51,288,000 after buying an additional 317,530 shares during the period. Alyeska Investment Group L.P. increased its holdings in AeroVironment by 48.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company's stock valued at $107,606,000 after buying an additional 293,553 shares during the period. Norges Bank bought a new position in AeroVironment in the 2nd quarter valued at about $75,690,000. Finally, Invesco Ltd. increased its holdings in AeroVironment by 75.6% in the 2nd quarter. Invesco Ltd. now owns 609,019 shares of the aerospace company's stock valued at $173,540,000 after buying an additional 262,239 shares during the period. 86.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AVAV shares. Cantor Fitzgerald started coverage on shares of AeroVironment in a research note on Tuesday, July 8th. They set an "overweight" rating and a $335.00 target price for the company. The Goldman Sachs Group raised their target price on shares of AeroVironment from $300.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. New Street Research set a $365.00 target price on shares of AeroVironment in a research note on Wednesday, October 1st. Wedbush upgraded shares of AeroVironment to an "outperform" rating in a research note on Wednesday, June 25th. Finally, Citigroup restated an "outperform" rating on shares of AeroVironment in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $356.07.

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.

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