Axon Enterprise (NASDAQ:AXON) Hits New 12-Month Low – Time to Sell?

Axon Enterprise, Inc (NASDAQ:AXON)’s stock price reached a new 52-week low on Monday . The stock traded as low as $463.85 and last traded at $464.06, with a volume of 673449 shares. The stock had previously closed at $483.58.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of research reports. Piper Sandler decreased their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. Morgan Stanley decreased their price target on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Royal Bank Of Canada started coverage on shares of Axon Enterprise in a report on Monday, November 17th. They issued an “outperform” rating and a $860.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $805.71.

Axon Enterprise Price Performance

The firm has a market cap of $33.98 billion, a P/E ratio of 136.28, a PEG ratio of 13.59 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89. The company’s 50-day moving average is $573.44 and its two-hundred day moving average is $662.79.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 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 analyst estimates of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. Axon Enterprise’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $619.01, for a total transaction of $6,190,100.00. Following the completion of the sale, the chief executive officer directly owned 3,100,997 shares in the company, valued at $1,919,548,152.97. This represents a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brittany Bagley sold 2,000 shares of Axon Enterprise stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $580.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief financial officer owned 103,501 shares in the company, valued at approximately $60,030,580. This represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 60,540 shares of company stock worth $34,684,738. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Axon Enterprise by 3.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock worth $132,349,000 after acquiring an additional 5,953 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its holdings in Axon Enterprise by 180.7% in the second quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock valued at $997,000 after acquiring an additional 775 shares during the last quarter. Jaffetilchin Investment Partners LLC increased 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 period. Vanguard Group Inc. raised its holdings in Axon Enterprise by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after purchasing an additional 305,252 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised its holdings in Axon Enterprise by 3.2% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock worth $12,006,000 after purchasing an additional 448 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.