Axon Enterprise (NASDAQ:AXON) CEO Sells $5,089,900.00 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Price Performance

Shares of AXON traded down $11.15 during mid-day trading on Thursday, hitting $478.85. 933,953 shares of the company were exchanged, compared to its average volume of 1,044,202. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $792.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The company has a 50 day moving average of $566.39 and a 200-day moving average of $488.10. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 198.69, a price-to-earnings-growth ratio of 9.86 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period last year, the company posted $2.12 EPS. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. Analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. UBS Group upped their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, Barclays upped their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $721.57.

Institutional Trading of Axon Enterprise

Several hedge funds have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. purchased a new stake in Axon Enterprise in the second quarter valued at $31,000. AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $34,000. Darwin Wealth Management LLC acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at $37,000. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.