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

Janney Montgomery Scott LLC lowered its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 38.7% in the first quarter, Holdings Channel reports. 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 quarter.

Other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in Axon Enterprise in the second quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise during the fourth quarter worth $28,000. Sound Income Strategies LLC raised its position in Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at $30,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Cameron Brooks sold 1,242 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 52,813 shares in the company, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,989 shares of company stock valued at $24,090,083. Corporate insiders own 4.20% of the company’s stock.

Trending Headlines about Axon Enterprise

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 Trading Up 0.5%

NASDAQ AXON opened at $597.04 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The firm 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. The firm has a 50 day simple moving average of $433.80 and a 200-day simple moving average of $481.59. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced 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 firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. Equities research analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AXON. Barclays lowered their price target on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $674.00 target price on shares of Axon Enterprise in a research note on Monday, June 15th. Finally, TD Cowen lowered their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise 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.