AeroVironment CEO Nawabi Wahid sells $3.76 million in stock

AeroVironment Inc. (NASDAQ:AVAV), a $3.53 billion market cap company whose stock has declined over 32% in the past six months, saw its Chair, President, and CEO Nawabi Wahid sell a significant portion of his holdings, according to a recent filing with the Securities and Exchange Commission. InvestingPro data shows the company currently trades at a P/E ratio of 106, with analysts maintaining a bullish outlook. On March 24, Wahid sold 29,366 shares of AeroVironment’s common stock at an average price of $128.20, totaling approximately $3.76 million. This sale was part of a transaction to cover the option exercise price and associated taxes.

Additionally, Wahid exercised options to acquire 50,000 shares at a price of $26.70 per share, with the total value of these transactions reaching approximately $1.34 million. Following these transactions, Wahid’s direct ownership of AeroVironment stock stands at 115,174 shares.

In other recent news, AeroVironment reported its financial results for the third quarter of fiscal year 2025, revealing an earnings miss with adjusted earnings per share of $0.30, which was below the forecasted $0.61. Revenue also fell short of expectations, coming in at $167.6 million compared to the anticipated $195.62 million. Despite these setbacks, the company maintains a strong backlog of $763.5 million, indicating potential future revenue streams. AeroVironment has also been awarded a contract by the Defense Innovation Unit to expedite the deployment of autonomous precision munitions, aligning with the Department of Defense’s Project Artemis. Furthermore, the U.S. Army has lifted a stop-work order on certain foreign military sales contracts, allowing AeroVironment to resume its contractual activities. Analyst firms have not provided recent upgrades or downgrades for AeroVironment, but the company’s recent developments continue to draw attention from investors. AeroVironment is actively working on strategic initiatives, including the potential acquisition of Blue Halo, which is expected to enhance its technological capabilities.

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