Patrick Smith Sells 20,000 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the transaction, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Performance

Shares of AXON opened at $452.51 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market capitalization of $36.47 billion, a price-to-earnings ratio of 181.73, a PEG ratio of 8.56 and a beta of 1.45. The company’s 50 day simple moving average is $408.90 and its 200 day simple moving average is $490.57. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. On average, sell-side analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Institutional Investors Weigh In On Axon Enterprise

Several large investors have recently made changes to their positions in the business. Rathbones Group PLC increased its position in shares of Axon Enterprise by 11.1% in the first quarter. Rathbones Group PLC now owns 50,908 shares of the biotechnology company’s stock worth $21,620,000 after acquiring an additional 5,100 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in shares of Axon Enterprise by 58.0% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 4,901 shares of the biotechnology company’s stock worth $2,081,000 after acquiring an additional 1,799 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Axon Enterprise by 7.2% in the first quarter. Parallel Advisors LLC now owns 1,095 shares of the biotechnology company’s stock worth $465,000 after acquiring an additional 74 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Axon Enterprise by 32.4% in the first quarter. NewEdge Advisors LLC now owns 5,315 shares of the biotechnology company’s stock worth $2,257,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Foguth Wealth Management LLC. acquired a new stake in shares of Axon Enterprise in the first quarter worth $541,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Key Axon Enterprise News

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

• Positive Sentiment: Axon continues to receive favorable analyst coverage, with a “Moderate Buy” consensus and an average price target of $712.75, suggesting Wall Street still sees meaningful upside from current levels.
• Positive Sentiment: The stock has also been supported by strong recent fundamentals, including the company’s latest earnings beat and revenue growth, which helped drive a strong run earlier in the month. Article Title
• Neutral Sentiment: AXON Networks announced the acquisition of Greenwave Systems, a deal that expands its OSS/BSS and wireless orchestration capabilities. This is a strategic growth update, but it appears unrelated to Axon Enterprise’s core public-safety business. Article Title
• Neutral Sentiment: Short-interest data showed no meaningful change in the near term, so it does not appear to be a major driver of the stock’s move.
• Negative Sentiment: Several insiders, including the CEO, president, and CRO, sold shares under pre-arranged trading plans. While these sales may be routine, they can still weigh on investor sentiment when the stock is already trading lower. Article Title
• Negative Sentiment: The stock’s recent pullback also reflects broader profit-taking after a strong monthly run, especially as Axon remains richly valued versus earnings.

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.