Axon Enterprise (NASDAQ:AXON) CEO Sells $10,000,000.00 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Down 3.1%

AXON traded down $15.06 during midday trading on Monday, reaching $471.06. The company’s stock had a trading volume of 941,797 shares, compared to its average volume of 1,098,205. The firm has a market capitalization of $37.97 billion, a price-to-earnings ratio of 189.18, a PEG ratio of 8.84 and a beta of 1.45. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The stock’s 50-day moving average is $408.04 and its 200-day moving average is $491.56.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analysts’ expectations 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 was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.47 earnings per share. As a group, research analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXON. Brighton Jones LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $480,000. NewEdge Advisors LLC raised its position in Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after acquiring an additional 668 shares during the period. Empowered Funds LLC raised its position in Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP raised its position in Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Axon Enterprise in the second quarter worth approximately $284,000. Institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

AXON has been the topic of several analyst reports. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. TD Cowen dropped their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Citizens Jmp dropped 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 research note on Thursday, May 7th. Barclays dropped their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Craig Hallum reiterated a “buy” rating and issued a $820.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $712.75.

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.