Insider Selling: Axon Enterprise (NASDAQ:AXON) CEO Sells 10,000 Shares of Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the sale, the chief executive officer owned 3,110,997 shares of the company’s stock, valued at approximately $1,717,021,464.24. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Axon Enterprise Stock Down 1.2%

Shares of NASDAQ AXON traded down $6.47 during trading hours on Tuesday, hitting $546.65. The stock had a trading volume of 459,276 shares, compared to its average volume of 707,666. 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 $43.14 billion, a P/E ratio of 172.99, a P/E/G ratio of 126.54 and a beta of 1.40. Axon Enterprise, Inc has a 52 week low of $469.24 and a 52 week high of $885.91. The firm’s 50-day moving average price is $636.04 and its two-hundred day moving average price is $718.82.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share 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 the consensus estimate of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 earnings per share. Analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Axon Enterprise

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JMP Securities restated a “market outperform” rating and issued a $825.00 price target on shares of Axon Enterprise in a research report on Monday, September 29th. Wall Street Zen lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Royal Bank Of Canada started coverage on Axon Enterprise in a report on Monday, November 17th. They set an “outperform” rating and a $860.00 target price on the stock. Piper Sandler decreased their price objective on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Barclays decreased their target price on Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $815.00.

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.