Patrick Smith Sells 10,000 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the transaction, the chief executive officer owned 3,110,997 shares in the company, valued at $1,717,021,464.24. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Axon Enterprise Stock Up 4.0%

Shares of NASDAQ AXON opened at $568.39 on Thursday. The company has a market capitalization of $44.85 billion, a P/E ratio of 179.87, a P/E/G ratio of 125.55 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89. The company has a 50 day simple moving average of $629.76 and a 200-day simple moving average of $716.48. Axon Enterprise, Inc has a 1 year low of $469.24 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million during the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The company’s revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.45 earnings per share. On average, equities research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AXON. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday. Wall Street Zen lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler dropped their price target on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. UBS Group decreased their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $870.00 price objective on shares of Axon Enterprise in a research report on Wednesday, September 24th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $815.00.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the business. Vestor Capital LLC raised its holdings in Axon Enterprise by 438,636.3% in the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after acquiring an additional 833,409 shares in the last quarter. Norges Bank purchased a new stake in shares of Axon Enterprise in the 2nd quarter valued at approximately $637,806,000. Nuveen LLC acquired a new stake in shares of Axon Enterprise in the 1st quarter valued at $264,796,000. Vanguard Group Inc. raised its holdings in shares of Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after purchasing an additional 376,904 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Axon Enterprise by 53.8% during the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after purchasing an additional 330,213 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.