AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC cut its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 18.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,275 shares of the aerospace company’s stock after selling 298 shares during the quarter. Verition Fund Management LLC’s holdings in AeroVironment were worth $256,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Security National Bank purchased a new position in AeroVironment in the third quarter worth approximately $31,000. Canada Pension Plan Investment Board purchased a new stake in shares of AeroVironment during the 2nd quarter worth $36,000. Truvestments Capital LLC acquired a new position in shares of AeroVironment during the third quarter worth $62,000. Avior Wealth Management LLC increased its holdings in AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock valued at $79,000 after buying an additional 133 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in AeroVironment by 23.1% in the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock valued at $80,000 after buying an additional 75 shares in the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on AVAV shares. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Thursday, December 5th. BTIG Research reiterated a “buy” rating and issued a $245.00 price target on shares of AeroVironment in a research note on Tuesday, September 17th. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Robert W. Baird raised shares of AeroVironment from a “neutral” rating to an “outperform” rating and increased their target price for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. Finally, Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $225.20.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the completion of the transaction, the chief financial officer now owns 16,472 shares in the company, valued at approximately $3,273,480.56. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 1,782 shares of company stock worth $373,609. 1.27% of the stock is currently owned by insiders.

AeroVironment Stock Up 1.7 %

AVAV stock opened at $156.50 on Friday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 89.94 and a beta of 0.45. The company has a fifty day moving average price of $202.57 and a 200 day moving average price of $192.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment, Inc. has a 12 month low of $116.51 and a 12 month high of $236.60.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.29). The business had revenue of $188.46 million for the quarter, compared to analyst estimates of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. AeroVironment’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. Sell-side analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

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.