California Public Employees Retirement System Sells 15,842 Shares of AeroVironment, Inc. $AVAV

Key Points

• CalPERS reduced its AeroVironment stake by 24% in the first quarter, selling 15,842 shares and ending with 50,172 shares worth about $9.18 million.
• AeroVironment reported strong quarterly results, posting EPS of $1.84 and revenue of $641.62 million, both above Wall Street expectations, with revenue up 133.3% year over year.
• Analysts remain broadly positive on the stock despite some target cuts, with a consensus rating of “Moderate Buy” and an average price target of $266.68.

California Public Employees Retirement System lowered its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 24.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,172 shares of the aerospace company's stock after selling 15,842 shares during the period. California Public Employees Retirement System owned about 0.10% of AeroVironment worth $9,184,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of AeroVironment by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company's stock valued at $213,956,000 after acquiring an additional 71,903 shares during the last quarter. Heard Capital LLC grew its stake in shares of AeroVironment by 48.4% in the fourth quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company's stock worth $174,681,000 after purchasing an additional 235,685 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of AeroVironment by 17.2% in the second quarter. Ameriprise Financial Inc. now owns 504,270 shares of the aerospace company's stock worth $143,692,000 after purchasing an additional 73,963 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in AeroVironment by 18.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 490,426 shares of the aerospace company's stock valued at $89,772,000 after purchasing an additional 77,619 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in AeroVironment by 7.4% during the 2nd quarter. Alliancebernstein L.P. now owns 477,055 shares of the aerospace company's stock valued at $135,937,000 after purchasing an additional 32,721 shares during the period. Institutional investors own 86.38% of the company's stock.

AeroVironment Price Performance

Shares of AVAV opened at $149.51 on Friday. AeroVironment, Inc. has a fifty-two week low of $135.20 and a fifty-two week high of $417.86. The firm's 50-day simple moving average is $166.78 and its two-hundred day simple moving average is $213.45. The stock has a market cap of $7.57 billion, a PE ratio of -40.63, a price-to-earnings-growth ratio of 5.08 and a beta of 1.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.59 and a current ratio of 4.30.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its earnings results on Monday, June 29th. The aerospace company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.37. The firm had revenue of $641.62 million during the quarter, compared to analyst estimates of $555.97 million. AeroVironment had a negative net margin of 9.00% and a positive return on equity of 3.71%. The business's revenue was up 133.3% on a year-over-year basis. During the same period last year, the business earned $1.61 earnings per share. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. Analysts anticipate that AeroVironment, Inc. will post 3.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVAV shares. KeyCorp lowered their price target on AeroVironment from $295.00 to $220.00 and set an "overweight" rating for the company in a research report on Friday, June 26th. Needham & Company LLC restated a "buy" rating and set a $225.00 target price on shares of AeroVironment in a report on Thursday, July 9th. Clear Str raised AeroVironment to a "strong-buy" rating in a research note on Wednesday, April 29th. BTIG Research reissued a "buy" rating and set a $205.00 price objective on shares of AeroVironment in a research report on Thursday, July 9th. Finally, Piper Sandler reduced their price objective on shares of AeroVironment from $248.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $266.68.

Insider Buying and Selling at AeroVironment

In other news, Director Stephen F. Page sold 250 shares of AeroVironment stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $174.41, for a total value of $43,602.50. Following the completion of the transaction, the director owned 49,001 shares of the company's stock, valued at $8,546,264.41. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.81% of the stock is owned by insiders.

Key AeroVironment News

Here are the key news stories impacting AeroVironment this week:

• Neutral Sentiment: Several law firms reiterated the approaching July 27 lead-plaintiff deadline in the AVAV securities class action, keeping AeroVironment in the news and highlighting ongoing legal overhang. Article Title
• Neutral Sentiment: The company also saw another round of short-interest commentary, but the filing reported zero shares short, so it does not appear to add meaningful new pressure. Article Title
• Positive Sentiment: AeroVironment recently scored a new Army contract, and investors have also been encouraged by strong defense-program momentum, which supports the long-term revenue outlook even as the stock trades lower near term. Article Title

About AeroVironment

AeroVironment, Inc NASDAQ: AVAV is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company's unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.

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