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 company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $500.00, for a total value of $5,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,050,997 shares in the company, valued at $1,525,498,500. The trade was a 0.33% decrease in their position. The transaction was disclosed in a legal filing 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 traded up $50.01 during midday trading on Tuesday, reaching $560.61. 1,562,938 shares of the stock were exchanged, compared to its average volume of 1,102,856. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The company has a market cap of $45.19 billion, a P/E ratio of 225.14, a PEG ratio of 9.48 and a beta of 1.45. The stock’s 50 day simple moving average is $423.00 and its 200 day simple moving average is $481.32. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON) last announced 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 net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. On average, sell-side analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise News Summary

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

• Positive Sentiment: Reports that President Trump bought up to $5 million of Axon stock before ICE later posted a notice for a possible $220 million Taser deal have fueled speculation that Axon could benefit from a large government order. Trump bought as much as $5 million in Axon stock before ICE sought $220 million Taser deal
• Positive Sentiment: Several market recaps say Axon’s move is being driven by the Trump/ICE news, which has put the stock back in the spotlight and helped extend momentum. Why Is Axon Enterprise Stock Surging On Tuesday?
• Positive Sentiment: Northland Securities reiterated its Buy rating on Axon Enterprise, reinforcing a bullish analyst view on the company’s long-term growth prospects. Northland Securities Reaffirms Their Buy Rating on Axon Enterprise (AXON)
• Neutral Sentiment: CEO commentary highlighting Axon’s mission to reduce gun violence and expand nonlethal public safety tools may support the company’s growth narrative, but it is not a direct catalyst by itself. CEO of Taser maker Axon: We are moving closer to making bullets extinct
• Negative Sentiment: The Trump-ICE timing has also raised conflict-of-interest and ethics questions, creating headline risk that could weigh on Axon if political scrutiny intensifies. Axon Enterprise (AXON) Stock Drew Ethics Questions After Trump Bought $5 Million In Shares

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $28,000. Sound Income Strategies LLC lifted its holdings in Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares during the period. Camelot Portfolios LLC acquired a new position in Axon Enterprise in the fourth quarter valued at $30,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the fourth quarter valued at $34,000. Finally, Lodestone Wealth Management LLC bought a new stake in Axon Enterprise during the fourth quarter valued at $35,000. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the subject of several research analyst reports. Barclays lowered their target price 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. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research report on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, UBS Group cut their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $712.75.

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.