Insider Selling: Axon Enterprise (NASDAQ:AXON) CEO Sells $6,190,100.00 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the company’s 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 in the company, valued at approximately $1,919,548,152.97. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $631.69 on Friday. The company has a 50 day moving average of $572.86 and a 200 day moving average of $688.07. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. The stock has a market cap of $49.85 billion, a P/E ratio of 199.90, a P/E/G ratio of 19.89 and a beta of 1.41. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). The firm 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%.The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 earnings per share. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Axon Enterprise

A number of large investors have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. purchased a new stake in shares of Axon Enterprise during the second quarter worth about $214,000. Wealthedge Investment Advisors LLC increased its holdings in Axon Enterprise by 180.7% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock valued at $997,000 after purchasing an additional 775 shares during the period. Jaffetilchin Investment Partners LLC raised its position in Axon Enterprise by 11.7% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,938 shares of the biotechnology company’s stock valued at $4,916,000 after purchasing an additional 624 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Axon Enterprise by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after buying an additional 305,252 shares during the period. Finally, Duncker Streett & Co. Inc. grew its position in shares of Axon Enterprise by 3.2% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock worth $12,006,000 after buying an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a report on Tuesday, January 6th. Piper Sandler dropped their target price 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. Royal Bank Of Canada started coverage on shares of Axon Enterprise in a research note on Monday, November 17th. They issued an “outperform” rating and a $860.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $825.00 price objective on shares of Axon Enterprise in a research report on Monday, September 29th. Finally, Wall Street Zen lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target 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.