Key Points
- Axon Enterprise CEO Patrick Smith sold 10,000 shares on July 7 in a pre-arranged Rule 10b5-1 trade, totaling about $6.44 million. After the sale, he still directly owned more than 3.04 million shares.
- The stock was trading lower on the day cited, while Axon’s latest earnings showed revenue growth of 33.7% year over year and EPS slightly above estimates. Analysts also remain generally positive, with an average rating of Moderate Buy.
- Institutional ownership remains very high at 79.08%, and recent analyst moves were mixed but mostly favorable, including a Zacks Strong Buy upgrade and higher price targets from several firms.
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 stock was sold at an average price of $643.79, for a total transaction of $6,437,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,040,997 shares in the company, valued at $1,957,763,458.63. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Axon Enterprise Trading Down 3.0%
Shares of Axon Enterprise stock opened at $582.00 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The stock's 50 day simple moving average is $454.59 and its 200-day simple moving average is $483.19. The stock has a market cap of $46.91 billion, a P/E ratio of 233.73, a P/E/G ratio of 12.24 and a beta of 1.38. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.90 million. During the same quarter last year, the firm earned $1.47 earnings per share. The business's revenue for the quarter was up 33.7% on a year-over-year basis. Analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.
Hedge Funds Weigh In On Axon Enterprise
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXON. Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after acquiring an additional 53,060 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after acquiring an additional 35,544 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the period. Sands Capital Management LLC boosted its holdings in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after purchasing an additional 167,095 shares during the period. Finally, Wellington Management Group LLP grew its stake in 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 purchasing an additional 1,179,038 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Barclays decreased their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. TD Cowen lowered their price target on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Needham & Company LLC lifted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Monday. Finally, Weiss Ratings upgraded Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $722.12.
Check Out Our Latest Research Report on Axon Enterprise
Axon Enterprise News Roundup
Here are the key news stories impacting Axon Enterprise this week:
- Positive Sentiment: Axon was upgraded to Zacks Rank #1 (Strong Buy), reflecting improved earnings optimism and a potentially more favorable outlook for the shares. Article: Axon (AXON) Upgraded to Strong Buy: Here's What You Should Know
- Positive Sentiment: Investor attention remains high, with heavy searching on Zacks and recent coverage highlighting Axon’s strong growth narrative and expanding law-enforcement contracts. Article: Investors Heavily Search Axon Enterprise, Inc (AXON): Here is What You Need to Know
- Positive Sentiment: Recent articles pointed to record quarterly revenue, AI-driven public safety products, and contract wins such as increased spending from the Los Angeles Police Department, reinforcing the company’s growth story. Article: Why Axon Enterprise (AXON) Is Up 14.2% After Trump Stake And New ICE Contract Momentum
- Neutral Sentiment: CEO Patrick W. Smith sold 10,000 shares under a pre-arranged 10b5-1 plan, which is routine insider selling and not necessarily a negative signal, though it may still draw investor attention. Article: SEC filing for insider sale
- Neutral Sentiment: Some commentary says Axon may be looking fully valued after its sharp run-up, and one report noted the stock underperformed peers on Wednesday, which could limit upside if growth expectations cool. Article: Axon Enterprise (AXON) Following Its Public Safety Platform Narrative Looks Fully Valued
Axon Enterprise Company Profile
(
Get Free Report)
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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