Insider Selling: Axon Enterprise (NASDAQ:AXON) Insider Sells $6,019,453.50 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) insider Jeffrey Kunins sold 9,605 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a 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

NASDAQ:AXON traded down $30.16 during trading hours on Monday, reaching $597.59. 658,349 shares of the company’s stock were exchanged, compared to its average volume of 1,062,970. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $48.55 billion, a P/E ratio of 247.96, a price-to-earnings-growth ratio of 10.19 and a beta of 1.39. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $794.29. The business’s 50-day simple moving average is $543.11 and its two-hundred day simple moving average is $476.99.

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

Institutional Trading of Axon Enterprise

Hedge funds and other institutional investors have recently modified their holdings of the business. Carlson Financial Inc. grew its holdings in shares of Axon Enterprise by 2.7% during the second quarter. Carlson Financial Inc. now owns 16,039 shares of the biotechnology company’s stock valued at $8,992,000 after buying an additional 415 shares in the last quarter. California State Teachers Retirement System lifted its stake in Axon Enterprise by 55,955.7% in the 2nd quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company’s stock worth $36,317,352,000 after acquiring an additional 64,666,282 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 65 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Axon Enterprise during the 2nd quarter worth about $236,000. Finally, Nvest Financial LLC boosted its position in Axon Enterprise by 10.4% during the 2nd quarter. Nvest Financial LLC now owns 777 shares of the biotechnology company’s stock worth $436,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AXON. UBS Group upped their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $730.92.

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.