Patrick Smith Sells 9,930 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 9,930 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the completion of the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Performance

Shares of AXON traded up $39.98 on Tuesday, reaching $636.31. 1,490,332 shares of the stock traded hands, compared to its average volume of 1,083,049. The stock’s 50-day moving average price is $516.19 and its 200-day moving average price is $473.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The firm has a market cap of $51.69 billion, a price-to-earnings ratio of 264.03, a P/E/G ratio of 11.65 and a beta of 1.39. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $824.66.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. During the same period last year, the business earned $2.12 earnings per share. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. Equities analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in shares of Axon Enterprise by 53.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after buying an additional 4,002 shares in the last quarter. Legal & General Group Plc grew its holdings in 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 acquiring an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Axon Enterprise in the 4th quarter valued at about $13,116,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Axon Enterprise in the first quarter worth about $15,067,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Axon Enterprise by 40.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company’s stock worth $6,406,000 after purchasing an additional 4,360 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AXON shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Piper Sandler raised their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Finally, Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $730.92.

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.