Axon Enterprise Sees Unusually Large Options Volume (NASDAQ:AXON)

Axon Enterprise, Inc. (NASDAQ:AXON) saw unusually large options trading on Monday. Stock investors bought 3,449 put options on the stock. This represents an increase of 45% compared to the average daily volume of 2,376 put options.

Axon Enterprise Price Performance

NASDAQ:AXON traded down $7.53 during mid-day trading on Monday, reaching $784.32. The stock had a trading volume of 155,880 shares, compared to its average volume of 726,151. Axon Enterprise has a 12 month low of $279.02 and a 12 month high of $806.64. The stock has a 50-day simple moving average of $643.89 and a two-hundred day simple moving average of $616.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The stock has a market capitalization of $61.06 billion, a PE ratio of 202.67, a P/E/G ratio of 5.17 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. On average, equities analysts anticipate that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In other news, Director Jeri Williams sold 307 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at approximately $899,275.44. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the sale, the chief executive officer now directly owns 3,063,982 shares of the company’s stock, valued at approximately $1,657,583,622.18. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,969 shares of company stock worth $29,909,594. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axon Enterprise

Institutional investors have recently added to or reduced their stakes in the stock. TCTC Holdings LLC raised its position in Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise during the 4th quarter worth about $30,000. Bartlett & CO. Wealth Management LLC raised its holdings in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 33 shares during the last quarter. Banque Transatlantique SA bought a new position in Axon Enterprise during the 1st quarter worth approximately $31,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Axon Enterprise in the 1st quarter worth approximately $32,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AXON. Northcoast Research downgraded Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Barclays boosted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Bank of America raised their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Needham & Company LLC boosted their price target on Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $699.55.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.