Wrap Technologies (NASDAQ: WRAP) CEO Scot Cohen disclosed the purchase of 666,666 shares of company stock, valued at approximately $1 million, in a Form 4 filing late Thursday. The transaction brings Cohen’s total direct insider purchases to over 4 million shares in the past 18 months, signaling a continued vote of confidence in the company’s trajectory.
Insider buys often resonate with investors as indicators of management confidence. This latest move coincides with growing operational strength across Wrap’s product and training ecosystem. The company reports that its WrapTactics subscription-based training platform is driving increased use of the BolaWrap 150 device, now ranked as the most frequently deployed tool among dozens of law enforcement programs. Furthermore, in just the first six weeks of the third quarter, Wrap has sold more BolaWrap units than it did in the entire first half of the year.
On the innovation front, Wrap has recently expanded into the counter–unmanned aircraft systems (C-UAS) market with two strategic R&D programs. Wrap-Merlin 1 adapts the BolaWrap 150 into a drone-mounted, modular payload designed to entangle and disable hostile drones mid-flight—an affordable, reusable alternative to traditional interceptors. PAN-DA (Personal Anti-Drone Armament), by contrast, is a handheld, surface-to-air counter-drone tool that launches Kevlar tethers to disable drones at close range, offering a compact and portable defense option.
Industry analysts forecast the global C-UAS market to expand from $1.9 billion in 2023 to over $6.8 billion by 2030, driven by the rising prevalence of drone threats in military, criminal, and infrastructure domains. With both its aerial defense initiatives and law enforcement training growth, Wrap is seeking to diversify its offerings while reinforcing its public safety mission.Shares of Wrap Technologies have traded within a 52-week range of $1.20 to $2.58, reflecting investor confidence in the company’s expanding footprint and leadership’s commitment to long-term value.
