AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its holdings in AeroVironment, Inc. by 7.3%, selling 155,130 shares, resulting in ownership of approximately 7.02% of the company worth $236 million.
• AeroVironment's latest quarterly earnings revealed an EPS of $1.61, exceeding analysts' estimates of $1.41, and showcasing a 39.6% revenue increase year-over-year.
• Analysts maintain a Buy consensus for AeroVironment, with price targets ranging from $210 to $335, indicating positive market sentiment.

Baillie Gifford & Co. cut its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,980,150 shares of the aerospace company's stock after selling 155,130 shares during the period. Baillie Gifford & Co. owned about 7.02% of AeroVironment worth $236,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in shares of AeroVironment by 41.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,559 shares of the aerospace company's stock worth $1,317,000 after purchasing an additional 2,518 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of AeroVironment during the 4th quarter worth about $204,000. Corient Private Wealth LLC boosted its stake in shares of AeroVironment by 5.5% during the 4th quarter. Corient Private Wealth LLC now owns 4,466 shares of the aerospace company's stock worth $687,000 after purchasing an additional 232 shares during the last quarter. Xponance Inc. boosted its stake in shares of AeroVironment by 17.7% during the 4th quarter. Xponance Inc. now owns 1,998 shares of the aerospace company's stock worth $307,000 after purchasing an additional 301 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of AeroVironment during the 4th quarter worth about $282,000. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AeroVironment

In other news, CEO Wahid Nawabi sold 17,300 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the completion of the sale, the chief executive officer owned 122,233 shares of the company's stock, valued at approximately $32,153,390.65. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.27% of the company's stock.

AeroVironment Stock Up 0.6%

NASDAQ:AVAV traded up $1.68 during trading hours on Friday, hitting $272.88. The stock had a trading volume of 722,298 shares, compared to its average volume of 2,330,022. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $295.90. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The company has a market cap of $13.46 billion, a PE ratio of 176.05 and a beta of 0.96. The business has a 50 day simple moving average of $218.04 and a two-hundred day simple moving average of $173.98.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The business had revenue of $275.05 million during the quarter, compared to the consensus estimate of $242.69 million. During the same quarter last year, the company earned $0.43 earnings per share. The business's quarterly revenue was up 39.6% compared to the same quarter last year. Analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVAV. The Goldman Sachs Group began coverage on shares of AeroVironment in a report on Monday, June 30th. They set a "buy" rating and a $301.00 price objective on the stock. Oppenheimer reiterated an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Royal Bank Of Canada increased their price objective on shares of AeroVironment from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Robert W. Baird increased their price objective on shares of AeroVironment from $146.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Finally, BTIG Research increased their price objective on shares of AeroVironment from $225.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AeroVironment currently has an average rating of "Buy" and an average price target of $268.00.

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.