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 Axon Enterprise stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $619.01, for a total value of $6,190,100.00. Following the sale, the chief executive officer owned 3,100,997 shares of the company’s stock, valued at approximately $1,919,548,152.97. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Axon Enterprise Stock Up 3.1%

AXON stock opened at $631.69 on Friday. The company’s 50 day moving average is $572.86 and its 200 day moving average is $688.80. The stock has a market cap of $49.85 billion, a price-to-earnings ratio of 199.90, a price-to-earnings-growth ratio of 19.30 and a beta of 1.41. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. 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 results 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 company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.Axon Enterprise’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. Sell-side analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Institutional Trading of Axon Enterprise

Institutional investors have recently made changes to their positions in the stock. Stone House Investment Management LLC bought a new stake in Axon Enterprise during the 3rd quarter valued at $29,000. New Millennium Group LLC bought a new position in shares of Axon Enterprise during the third quarter valued at about $29,000. Flaharty Asset Management LLC bought a new position in shares of Axon Enterprise during the first quarter valued at about $33,000. Hemington Wealth Management boosted its holdings in shares of Axon Enterprise by 70.8% during the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 17 shares during the period. Finally, Whipplewood Advisors LLC grew its stake in shares of Axon Enterprise by 192.9% in the second quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AXON. Needham & Company LLC reaffirmed a “buy” rating and set a $870.00 price target on shares of Axon Enterprise in a research note on Wednesday, September 24th. JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of Axon Enterprise in a research report on Monday, September 29th. Piper Sandler cut their target price on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

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.