Insider Selling: Axon Enterprise (NASDAQ:AXON) CRO Sells 1,242 Shares of Stock

Axon Enterprise, Inc (NASDAQ:AXON) CRO Cameron Brooks sold 1,242 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Trading Down 3.1%

AXON traded down $15.06 during mid-day trading on Monday, hitting $471.06. The stock had a trading volume of 941,797 shares, compared to its average volume of 1,098,205. The stock’s fifty day simple moving average is $408.04 and its 200-day simple moving average is $491.56. 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 firm has a market capitalization of $37.97 billion, a price-to-earnings ratio of 189.18, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted 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 company had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the business posted $1.47 earnings per share. As a group, research analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Citizens Jmp cut their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. TD Cowen lowered their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Piper Sandler lowered their price objective on shares of Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One equities 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Institutional Investors Weigh In On Axon Enterprise

Several large investors have recently made changes to their positions in AXON. Baillie Gifford & Co. increased its position in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Edgewood Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter worth $846,516,000. Wellington Management Group LLP lifted its position in shares of Axon Enterprise by 326.9% in the fourth 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. Norges Bank bought a new stake in shares of Axon Enterprise in the fourth quarter worth $515,764,000. Finally, Vanguard Group Inc. lifted its position in shares of Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after purchasing an additional 376,904 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

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.