Insider Selling: Arxis (NASDAQ:ARXS) Insider Sells 25,000 Shares of Stock

Key Points

• Arxis insider Kevin Scott Perhamus sold 25,000 shares at an average of $50.92, a transaction worth about $1.27 million. He retained 3,548,133 shares after the sale.
• Arxis shares traded at $53.79, within a 12-month range of $33.15 to $61.50; the company’s market capitalization was approximately $23.17 billion.
• Analyst sentiment was broadly positive: 11 analysts rated the stock Buy and two rated it Hold, giving it a Moderate Buy consensus and a $55.36 average target price.

Arxis, Inc. (NASDAQ:ARXS - Get Free Report) insider Kevin Scott Perhamus sold 25,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $50.92, for a total value of $1,273,000.00. Following the transaction, the insider directly owned 3,548,133 shares of the company's stock, valued at approximately $180,670,932.36. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Arxis Price Performance

Shares of Arxis stock traded down $0.58 during trading on Thursday, reaching $53.79. The company's stock had a trading volume of 559,492 shares, compared to its average volume of 1,022,323. The company has a quick ratio of 3.27, a current ratio of 4.70 and a debt-to-equity ratio of 0.32. Arxis, Inc. has a 12-month low of $33.15 and a 12-month high of $61.50. The company has a market capitalization of $23.17 billion and a P/E ratio of 137.92. The business has a 50 day moving average price of $50.94 and a 200-day moving average price of $46.49.

Institutional Trading of Arxis

Several large investors have recently bought and sold shares of ARXS. Squarepoint Ops LLC acquired a new position in shares of Arxis during the 2nd quarter worth $19,506,000. Grandeur Peak Global Advisors LLC purchased a new stake in shares of Arxis in the 2nd quarter worth about $2,740,000. State Street Corp acquired a new stake in Arxis in the 2nd quarter valued at about $9,948,000. Alyeska Investment Group L.P. acquired a new stake in Arxis in the 2nd quarter valued at about $13,842,000. Finally, Moody National Bank Trust Division purchased a new position in Arxis during the 3rd quarter valued at about $1,113,000.

Analyst Upgrades and Downgrades

ARXS has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Arxis from $61.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Arxis from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, November 2nd. Royal Bank Of Canada raised their price objective on shares of Arxis from $60.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, October 30th. Jefferies Financial Group reiterated a "buy" rating and issued a $60.00 price objective on shares of Arxis in a research note on Sunday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Arxis from $52.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.36.

About Arxis

Arxis, Inc. is a manufacturer and supplier of engineered products for the aerospace and defense industries. Its components and systems are designed for use in aircraft and other demanding applications. The company serves customers that require specialized, performance-critical products. Publicly available information about its specific product lines, operating history, geographic reach and leadership is limited.

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