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

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Trading Down 2.3%

NASDAQ:AXON opened at $478.85 on Friday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 198.69, a PEG ratio of 9.56 and a beta of 1.40. The firm has a fifty day simple moving average of $564.03 and a two-hundred day simple moving average of $488.42.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. Analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on AXON. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Morgan Stanley upped their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. UBS Group increased their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $721.57.

Hedge Funds Weigh In On Axon Enterprise

Several large investors have recently added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $28,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Axon Enterprise during the second quarter valued at approximately $31,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the fourth quarter worth $34,000. Darwin Wealth Management LLC bought a new stake in Axon Enterprise during the second quarter worth $37,000. Finally, Washington Trust Advisors Inc. raised its position in Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 65 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise News Summary

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

• Positive Sentiment: Analyst remains bullish: TD Cowen reaffirmed Axon as a top pick with a Buy rating and an $825 price target, citing an expected shift by cities toward Axon’s automated license-plate-recognition contracts. TD Cowen Axon analyst rating
• Positive Sentiment: Large Baltimore contract: Baltimore Police is adding 200 Axon license-plate cameras as part of a broader $153 million deal, supporting the company’s public-safety technology backlog and recurring-revenue opportunity. Baltimore Police Axon contract
• Neutral Sentiment: Technical and market factors: Analysts attributed the weakness primarily to profit-taking and broader risk-off trading in premium-valued growth stocks, rather than a new operational setback. A technical analysis identified the roughly $505 area as an important support level. Analysis of Axon share decline
• Negative Sentiment: Valuation concerns: A research report argued that rising sales and strong net revenue retention may not be sufficient to justify Axon’s elevated share price. The stock’s high earnings multiple leaves it vulnerable to additional multiple compression if growth expectations moderate. Axon earnings and valuation report
• Negative Sentiment: Insider selling adds pressure: CEO Patrick Smith sold 10,000 shares worth approximately $5.1 million under a pre-arranged Rule 10b5-1 plan. The planned nature of the transaction reduces its significance, but repeated insider sales and no reported insider purchases can weigh on sentiment. Axon CEO SEC filing

About Axon Enterprise

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.