Patrick Smith Sells 10,000 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Key Points

• Axon CEO Patrick Smith sold 10,000 shares on July 7 at an average price of $643.79, for proceeds of about $6.44 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Smith still directly owns about 3.04 million shares.
• Axon shares were lower in Thursday trading, falling $17.80 to $582.00. Even after the pullback, the stock has a large market cap of about $46.9 billion and remains well above its 50-day and 200-day moving averages.
• Recent fundamentals and analyst sentiment remain supportive, with Axon reporting quarterly EPS and revenue above estimates and revenue up 33.7% year over year. Analysts currently rate the stock a consensus “Moderate Buy,” with an average target price of $722.12.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) CEO Patrick Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total value of $6,437,900.00. Following the completion of the sale, the chief executive officer directly owned 3,040,997 shares of the company's stock, valued at $1,957,763,458.63. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Price Performance

AXON stock traded down $17.80 on Thursday, reaching $582.00. 1,024,829 shares of the company's stock were exchanged, compared to its average volume of 1,112,986. The stock has a fifty day moving average of $451.08 and a 200-day moving average of $483.28. The firm has a market cap of $46.91 billion, a PE ratio of 233.73, a P/E/G ratio of 13.07 and a beta of 1.38. 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, Inc has a twelve month low of $339.01 and a twelve month high of $885.91.

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

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. lifted its position in Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after buying an additional 1,516,099 shares during the period. Edgewood Management LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $846,516,000. Wellington Management Group LLP lifted its holdings in shares of Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the period. Norges Bank acquired a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $515,764,000. Finally, Styrax Capital LP purchased a new stake in Axon Enterprise in the first quarter valued at approximately $84,938,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Trending Headlines about Axon Enterprise

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

• Positive Sentiment: Axon was upgraded to Zacks Rank #1 (Strong Buy), signaling improved earnings expectations and a potentially supportive near-term setup for the stock. Article: Axon (AXON) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Needham raised its view on Axon’s valuation, arguing the company’s premium could be sustainable because of its strong bookings trajectory and long-term growth profile. Article: Needham Bets Axon's Premium Is Sustainable at $750
• Positive Sentiment: Recent coverage highlighted record quarterly revenue and expanding public-safety contract momentum, including a larger Los Angeles Police Department spend and ICE-related contract speculation, both of which support the growth narrative. Article: Why Axon Enterprise (AXON) Is Up 14.2% After Trump Stake And New ICE Contract Momentum
• Neutral Sentiment: AXON has also been getting heavier search attention from investors, which can indicate rising interest but does not by itself change fundamentals. Article: Investors Heavily Search Axon Enterprise, Inc (AXON): Here is What You Need to Know
• Negative Sentiment: Some coverage said Axon underperformed broader competitors in one recent session, and the stock’s rich valuation remains a point of caution for investors. Article: Axon Enterprise Inc. stock underperforms Wednesday when compared to competitors

Analyst Upgrades and Downgrades

AXON has been the topic of a number of research analyst reports. Barclays decreased their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Citizens Jmp reiterated a "market outperform" rating and set a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Weiss Ratings raised Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $722.12.

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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