Janney Montgomery Scott LLC Lowers Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Janney Montgomery Scott LLC cut its Axon Enterprise stake by 38.7% in the first quarter, selling 13,585 shares and ending with 21,500 shares worth about $9.13 million.
• Axon insiders have also been selling stock recently, including Isaiah Fields and Elizabeth Reid Coughlin, with total insider sales reaching 48,989 shares worth roughly $24.1 million over the past three months.
• Wall Street remains broadly positive on Axon, with 16 Buy ratings, one Strong Buy, and two Hold ratings; the consensus target price is $712.75 versus a recent share price of about $597.04.

Janney Montgomery Scott LLC lessened its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,500 shares of the biotechnology company's stock after selling 13,585 shares during the quarter. Janney Montgomery Scott LLC's holdings in Axon Enterprise were worth $9,131,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise during the fourth quarter worth about $28,000. Sound Income Strategies LLC lifted its stake in Axon Enterprise by 550.0% in the 4th 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 in the last quarter. Camelot Portfolios LLC purchased a new position in Axon Enterprise in the 4th quarter valued at about $30,000. AlphaCentric Advisors LLC acquired a new stake in Axon Enterprise in the 4th quarter worth about $34,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Axon Enterprise in the 4th quarter worth about $35,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 52,813 shares of the company's stock, valued at $21,125,200. This trade represents a 3.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,989 shares of company stock valued at $24,090,083 in the last three months. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a report on Thursday, May 7th. UBS Group lowered their price target on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $674.00 price objective on shares of Axon Enterprise in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average 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 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

Axon Enterprise Stock Up 0.5%

AXON stock opened at $597.04 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $433.80 and a two-hundred day moving average of $481.59. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The company has a market cap of $48.12 billion, a price-to-earnings ratio of 239.78, a PEG ratio of 12.12 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. As a group, analysts forecast that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

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.

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