Transaction details
Brian Charles Shackley, Chief Accounting Officer of AeroVironment Inc (NASDAQ: AVAV), sold 200 shares of the company's common stock on March 16, 2026. The shares were sold at $212.52 each, producing total proceeds of $42,504. Following the sale, Shackley holds 5,794 shares of AeroVironment directly.
The sale was carried out under a Rule 10b5-1 trading arrangement that Shackley adopted on September 30, 2025. The trade was reported on a Form 4 filed with the U.S. Securities and Exchange Commission; the filing bears the signature of Colby Petersen, acting as attorney-in-fact for Shackley, and is dated March 17, 2026.
Since the March 16 sale, AeroVironment's share price has moved higher to $222.51. Despite that uptick, the stock has declined by 21% over the past six months while showing a 78% gain over the last 12 months.
Company developments and financials
Separately, AeroVironment has completed its acquisition of Empirical Systems Aerospace, Inc. (ESAero) in a transaction with an aggregate value of roughly $200 million. The consideration includes $160 million in AeroVironment stock, with the remainder paid in cash. Management expects the deal to bolster the company's manufacturing capabilities and to be accretive to adjusted EBITDA in the first year following the close.
In fiscal third quarter 2026, AeroVironment reported revenue of $408 million and adjusted EBITDA of $44.5 million, yielding adjusted EBITDA margins of 10.9%. The company acknowledged that results missed expectations, pointing to timing-related issues and adjustments within its Space business, including the termination of the SCAR contract.
Analyst responses and valuation notes
Following the quarter and program developments, several analyst firms adjusted their price targets on AeroVironment. Stifel lowered its target to $315 from $389, citing the company’s third-quarter performance. RBC Capital reduced its target to $250 from $325, attributing the change to lower revenue and EBITDA visibility tied to the SCAR program.
KeyBanc and Needham also cut their targets, with KeyBanc moving to $295 from $330 and Needham reducing its target to $400 from $450. Both KeyBanc and Needham retained positive ratings on the stock. The price-target adjustments were described by the firms as reflecting concerns about program changes and delays that affect AeroVironment’s near-term financial outlook.
In addition, InvestingPro analysis cited in company disclosures characterizes the stock as appearing overvalued at current levels and points investors toward a Pro Research Report for more extensive coverage of AVAV and other U.S. equities.
Contextual note
The insider sale reported here was conducted through a pre-arranged plan that predates the trade date. The transaction was disclosed according to SEC Form 4 requirements, and the company simultaneously reported an acquisition intended to expand manufacturing capacity and to contribute to adjusted EBITDA in the first year after closing. Recent operational adjustments in the Space business and analyst target revisions provide the primary backdrop against which the insider’s sale and the company’s financial performance should be considered.