Axon Enterprise (NASDAQ:AXON) CEO Sells $5,000,000.00 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $500.00, for a total value 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 $1,525,498,500. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Performance

Shares of AXON opened at $597.04 on Friday. 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 stock has a market capitalization of $48.12 billion, a P/E ratio of 239.78, a P/E/G ratio of 12.12 and a beta of 1.38. The company’s fifty day moving average is $433.80 and its two-hundred day moving average is $481.59. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same period in the prior year, the business posted $1.47 EPS. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, sell-side analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Institutional Trading of Axon Enterprise

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its position in shares of Axon Enterprise by 53.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after purchasing an additional 4,002 shares during the last quarter. Legal & General Group Plc boosted its stake in Axon Enterprise by 1.3% during the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after buying an additional 5,419 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Axon Enterprise in the fourth quarter valued at about $13,116,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Axon Enterprise by 93.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock worth $13,270,000 after purchasing an additional 11,262 shares in the last quarter. Finally, Teamwork Financial Advisors LLC increased its holdings in Axon Enterprise by 40.5% during the 4th quarter. Teamwork Financial Advisors LLC now owns 25,352 shares of the biotechnology company’s stock valued at $14,398,000 after purchasing an additional 7,307 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on AXON shares. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a report on Thursday, May 7th. Piper Sandler restated an “overweight” rating and set a $674.00 price objective on shares of Axon Enterprise in a research note on Monday, June 15th. Barclays decreased their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Trending Headlines about Axon Enterprise

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

• Positive Sentiment: Axon continues to show strong fundamental momentum, with recent quarterly revenue up 33.7% year over year and earnings topping estimates. Management has also signaled confidence in growth from software, digital evidence, and Dedrone, which supports the bull case. AXON Gains From Strength in Software & Services Unit: Can the Momentum Sustain?
• Positive Sentiment: News that Brown Advisory’s Large-Cap Growth Strategy picked up Axon during a broader sell-off adds another signal of institutional interest in the name. Brown Advisory Large-Cap Growth Strategy Picked Axon Enterprises (AXON) Amid Broader Sell-Off
• Positive Sentiment: Investor optimism is also being lifted by speculation that Axon could benefit from expanding public-safety and federal demand, including possible future drone-related applications and larger government procurement. Axon’s Next Big Policing Bet Could Be Nonlethal Drones
• Neutral Sentiment: Axon’s CEO highlighted the company’s long-term mission to replace guns with technology, reinforcing the growth narrative but offering little immediate financial impact. How Axon is replacing guns with tech
• Neutral Sentiment: One recent insider filing showed CEO Patrick Smith sold 10,000 shares under a pre-arranged trading plan; the sale is worth watching but is not necessarily a negative signal by itself. Patrick Smith Sells 10,000 Shares of Axon Enterprise (NASDAQ:AXON) Stock
• Negative Sentiment: The Trump/ICE contract controversy has introduced ethics and reputational risk around Axon’s federal business, which could weigh on sentiment if political scrutiny intensifies. Hillary Clinton Escalates Trump Criticism, Cites Reports Linking Stock Purchases to Federal ICE Contract Decisions

About Axon Enterprise

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.