Axon Enterprise Sees Unusually High Options Volume (NASDAQ:AXON)

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of unusually large options trading activity on Monday. Investors purchased 3,449 put options on the company. This represents an increase of approximately 45% compared to the average volume of 2,376 put options.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AXON shares. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. The Goldman Sachs Group lifted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Bank of America upped their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Northcoast Research lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $699.55.

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Garnreiter sold 87 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.00, for a total transaction of $66,120.00. Following the completion of the sale, the director now owns 24,653 shares in the company, valued at $18,736,280. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,969 shares of company stock worth $29,909,594 in the last quarter. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Axon Enterprise

A number of large investors have recently made changes to their positions in AXON. TCTC Holdings LLC boosted its holdings in shares of Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock worth $29,000 after buying an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth about $30,000. Bartlett & CO. Wealth Management LLC grew its holdings in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 33 shares in the last quarter. Banque Transatlantique SA bought a new position in Axon Enterprise during the 1st quarter worth about $31,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Axon Enterprise in the 1st quarter valued at about $32,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Trading Down 1.0%

Shares of AXON opened at $783.80 on Tuesday. The firm has a fifty day simple moving average of $648.40 and a two-hundred day simple moving average of $617.41. Axon Enterprise has a twelve month low of $279.02 and a twelve month high of $806.64. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $61.02 billion, a P/E ratio of 202.53, a PEG ratio of 5.17 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The company had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. Axon Enterprise’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. On average, research analysts anticipate that Axon Enterprise will post 5.8 EPS for the current year.

Axon Enterprise Company Profile

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.