AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its position in AeroVironment, Inc. (NASDAQ:AVAV) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,008 shares of the aerospace company’s stock after selling 62,147 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.80% of AeroVironment worth $34,643,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bfsg LLC acquired a new stake in AeroVironment during the fourth quarter worth $25,000. NBC Securities Inc. acquired a new stake in shares of AeroVironment during the 1st quarter worth about $26,000. GAMMA Investing LLC purchased a new stake in AeroVironment in the 4th quarter valued at about $32,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in AeroVironment in the first quarter valued at about $38,000. Finally, Russell Investments Group Ltd. acquired a new position in AeroVironment in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Trading Down 0.8 %

Shares of AVAV stock opened at $168.90 on Friday. The stock has a market capitalization of $4.75 billion, a P/E ratio of 76.08 and a beta of 0.51. AeroVironment, Inc. has a fifty-two week low of $91.00 and a fifty-two week high of $224.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.52 and a current ratio of 3.56. The company has a 50 day moving average price of $191.97 and a 200 day moving average price of $155.90.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, June 26th. The aerospace company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.22 by $0.21. The business had revenue of $197.00 million during the quarter, compared to the consensus estimate of $188.48 million. AeroVironment had a net margin of 8.32% and a return on equity of 10.89%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities research analysts predict that AeroVironment, Inc. will post 3.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AVAV shares. BTIG Research assumed coverage on shares of AeroVironment in a research note on Wednesday, June 26th. They issued a “buy” rating and a $255.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of AeroVironment in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AeroVironment currently has an average rating of “Moderate Buy” and a consensus target price of $175.20.

Insiders Place Their Bets

In other news, CFO Kevin Patrick Mcdonnell sold 511 shares of AeroVironment stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $178.45, for a total value of $91,187.95. Following the completion of the transaction, the chief financial officer now owns 21,334 shares in the company, valued at approximately $3,807,052.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by company insiders.

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.