Axon Enterprise (NASDAQ:AXON) CEO Sells $6,190,100.00 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $619.01, for a total transaction of $6,190,100.00. Following the transaction, the chief executive officer owned 3,100,997 shares in the company, valued at approximately $1,919,548,152.97. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Axon Enterprise Stock Down 1.3%

NASDAQ:AXON traded down $7.93 during trading hours on Thursday, reaching $612.98. The company’s stock had a trading volume of 590,923 shares, compared to its average volume of 773,801. The stock has a 50 day moving average price of $577.39 and a two-hundred day moving average price of $690.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. The company has a market capitalization of $48.37 billion, a P/E ratio of 193.98, a price-to-earnings-growth ratio of 19.73 and a beta of 1.41. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 earnings per share. Equities analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AXON. Piper Sandler cut their price objective on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Royal Bank Of Canada started coverage on shares of Axon Enterprise in a research note on Monday, November 17th. They issued an “outperform” rating and a $860.00 target price for the company. Morgan Stanley cut their price target on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. JMP Securities reiterated a “market outperform” rating and set a $825.00 price objective on shares of Axon Enterprise in a report on Monday, September 29th. Finally, The Goldman Sachs Group lowered their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $805.71.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. acquired a new position in Axon Enterprise in the second quarter valued at approximately $214,000. Wealthedge Investment Advisors LLC increased its holdings in shares of Axon Enterprise by 180.7% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock valued at $997,000 after purchasing an additional 775 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in shares of Axon Enterprise by 11.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,938 shares of the biotechnology company’s stock valued at $4,916,000 after purchasing an additional 624 shares during the period. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 3.5% during the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after buying an additional 305,252 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings in Axon Enterprise by 3.2% during the second quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock worth $12,006,000 after buying an additional 448 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Company 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.