Patrick Smith Sells 10,000 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $500.00, for a total transaction of $5,000,000.00. Following the sale, the chief executive officer directly owned 3,050,997 shares of the company’s stock, valued at approximately $1,525,498,500. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Trading Up 5.9%

NASDAQ:AXON opened at $593.96 on Thursday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The business has a fifty day moving average price of $429.96 and a 200-day moving average price of $481.36. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 238.54, a price-to-earnings-growth ratio of 11.44 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. During the same period in the previous year, the business earned $1.47 earnings per share. Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXON. Barclays cut their price objective on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. TD Cowen dropped their price target on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Institutional Trading of Axon Enterprise

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC grew its holdings in Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 15 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Axon Enterprise by 0.5% in the third quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock worth $2,848,000 after buying an additional 19 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Axon Enterprise by 5.2% in the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company’s stock worth $220,000 after buying an additional 19 shares in the last quarter. Synergy Financial Group LTD boosted its position in shares of Axon Enterprise by 1.4% during the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock worth $996,000 after acquiring an additional 19 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Axon Enterprise by 1.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock worth $1,350,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise News Summary

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: News that President Trump reportedly bought up to $5 million of Axon stock, followed by an ICE request for a potential $220 million TASER contract, has sparked speculation that demand for Axon’s public-safety equipment could accelerate. Trump bought up to $5M in Axon stock. ICE sought a $220M Taser deal weeks later
• Positive Sentiment: Axon’s latest results also remain a support for the stock, with first-quarter revenue up 33.7% year over year and earnings slightly ahead of expectations, reinforcing the company’s growth narrative. Axon Enterprise jumps as investors react to disclosure-linked contract narrative and strong operating momentum
• Positive Sentiment: Axon’s Software & Services business is also gaining traction, with rising digital evidence demand, network users, and Dedrone growth helping support investor confidence in longer-term recurring revenue. AXON Gains From Strength in Software & Services Unit: Can the Momentum Sustain?
• Positive Sentiment: Several analyst views remain constructive, including recent buy/overweight reiterations and price targets well above recent trading levels. Northland Securities Reaffirms Their Buy Rating on Axon Enterprise (AXON)

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.