Axon Enterprise (NASDAQ:AXON) CEO Patrick Smith Sells 20,000 Shares of Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 20,000 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $471.06 on Tuesday. The company’s fifty day moving average price is $408.45 and its 200-day moving average price is $491.12. 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. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates 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 for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 EPS. On average, equities research analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Piper Sandler decreased their price target on shares of Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen raised shares of Axon Enterprise from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a report on Thursday, May 7th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $820.00 target price on shares of Axon Enterprise in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $712.75.

Hedge Funds Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV purchased a new stake in Axon Enterprise during the 4th quarter valued at $28,000. New Millennium Group LLC purchased a new stake in Axon Enterprise during the 3rd quarter valued at $29,000. Sound Income Strategies LLC boosted its position in Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares during the period. Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $34,000. Institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

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.