Axon Enterprise (NASDAQ:AXON) Insider Jeffrey Kunins Sells 9,605 Shares of Stock

Axon Enterprise, Inc (NASDAQ:AXON) insider Jeffrey Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. This represents a 8.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Down 4.8%

Shares of NASDAQ:AXON opened at $597.59 on Tuesday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29. The company has a market capitalization of $48.55 billion, a PE ratio of 247.96, a price-to-earnings-growth ratio of 10.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The company has a fifty day moving average of $546.20 and a 200-day moving average of $478.02.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.Axon Enterprise’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, equities analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AXON shares. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Morgan Stanley raised their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Piper Sandler lifted their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. UBS Group boosted their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Carlson Financial Inc. boosted its stake in shares of Axon Enterprise by 2.7% in the 2nd quarter. Carlson Financial Inc. now owns 16,039 shares of the biotechnology company’s stock valued at $8,992,000 after purchasing an additional 415 shares during the last quarter. California State Teachers Retirement System raised its stake in Axon Enterprise by 55,955.7% during the second quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company’s stock worth $36,317,352,000 after buying an additional 64,666,282 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after buying an additional 65 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Axon Enterprise in the second quarter valued at $236,000. Finally, Nvest Financial LLC lifted its holdings in Axon Enterprise by 10.4% in the second quarter. Nvest Financial LLC now owns 777 shares of the biotechnology company’s stock valued at $436,000 after buying an additional 73 shares during the period. 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.