Virtu Financial LLC Acquires 4,058 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Key Points

• Virtu Financial LLC increased its stake in AeroVironment, Inc. by 221.1%, acquiring 4,058 shares and bringing its total holdings to 5,893 shares valued at approximately $702,000.
• In related news, CEO Wahid Nawabi sold 17,300 shares at an average price of $263.05, reducing his ownership by 12.40% to 122,233 shares.
• AeroVironment reported a 39.6% year-over-year increase in revenue for the last quarter, reaching $275.05 million, and exceeded analysts' earnings expectations with $1.61 EPS.

Virtu Financial LLC increased its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 221.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,893 shares of the aerospace company's stock after buying an additional 4,058 shares during the period. Virtu Financial LLC's holdings in AeroVironment were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AVAV. CoreCap Advisors LLC boosted its holdings in AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 101 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in AeroVironment by 171.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 154 shares during the period. Accredited Wealth Management LLC bought a new position in AeroVironment in the 4th quarter valued at $31,000. Spirit of America Management Corp NY bought a new position in AeroVironment in the 1st quarter valued at $36,000. Finally, Signaturefd LLC boosted its holdings in AeroVironment by 56.1% in the 1st quarter. Signaturefd LLC now owns 398 shares of the aerospace company's stock valued at $47,000 after purchasing an additional 143 shares during the period. 86.38% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Wahid Nawabi sold 17,300 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 122,233 shares in the company, valued at $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.27% of the stock is owned by corporate insiders.

AeroVironment Price Performance

AVAV stock opened at $250.49 on Wednesday. The firm's 50-day moving average price is $239.24 and its two-hundred day moving average price is $181.62. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $295.90. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 161.61 and a beta of 0.99. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $275.05 million for the quarter, compared to analysts' expectations of $242.69 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 39.6% compared to the same quarter last year. As a group, equities analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on AVAV. Cantor Fitzgerald began coverage on shares of AeroVironment in a report on Tuesday, July 8th. They set an "overweight" rating and a $335.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Jefferies Financial Group lifted their price objective on shares of AeroVironment from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wedbush raised shares of AeroVironment to an "outperform" rating in a report on Wednesday, June 25th. Finally, KeyCorp began coverage on shares of AeroVironment in a report on Sunday, June 29th. They set an "overweight" rating for the company. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $285.33.

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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