Axon Enterprise (NASDAQ:AXON) Trading Up 6.4% – Here’s Why

Axon Enterprise, Inc (NASDAQ:AXON)’s stock price rose 6.4% during trading on Tuesday . The company traded as high as $432.60 and last traded at $436.4450. 97,849 shares changed hands during trading, a decline of 91% from the average daily volume of 1,079,736 shares. The stock had previously closed at $410.03.

Analyst Ratings Changes

A number of research analysts have issued reports on AXON shares. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Citizens Jmp reduced their target price on 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 cut 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. Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. Finally, Robert W. Baird set a $800.00 target price on shares of Axon Enterprise in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Axon Enterprise Trading Up 5.8%

The business has a fifty day simple moving average of $414.43 and a 200-day simple moving average of $484.39. The firm has a market cap of $34.95 billion, a price-to-earnings ratio of 173.74, a PEG ratio of 7.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts forecast that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 38,989 shares of company stock worth $19,090,083. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXON. Legal & General Group Plc lifted its position in shares of Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after buying an additional 5,419 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $13,116,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Axon Enterprise by 93.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock valued at $13,270,000 after acquiring an additional 11,262 shares in the last quarter. Teamwork Financial Advisors LLC increased its position in shares of Axon Enterprise by 40.5% during the fourth quarter. Teamwork Financial Advisors LLC now owns 25,352 shares of the biotechnology company’s stock valued at $14,398,000 after acquiring an additional 7,307 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Axon Enterprise by 21.1% during the fourth quarter. Clearbridge Investments LLC now owns 343,910 shares of the biotechnology company’s stock valued at $195,317,000 after acquiring an additional 59,821 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

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.