Axon Enterprise (NASDAQ:AXON) Shares Down 7.2% – Should You Sell?

Axon Enterprise, Inc (NASDAQ:AXON) shares fell 7.2% during trading on Tuesday . The company traded as low as $467.82 and last traded at $470.7260. 147,854 shares were traded during mid-day trading, a decline of 85% from the average session volume of 981,512 shares. The stock had previously closed at $507.28.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Piper Sandler lowered their price objective on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Craig Hallum reaffirmed a “buy” rating and issued a $820.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada dropped their target price on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $762.93.

Axon Enterprise Stock Performance

The stock has a market capitalization of $37.04 billion, a price-to-earnings ratio of 302.44, a price-to-earnings-growth ratio of 10.59 and a beta of 1.46. The firm has a fifty day moving average of $516.98 and a 200 day moving average of $597.88. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.60 by $0.55. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The firm’s revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the transaction, the insider directly owned 55,588 shares of the company’s stock, valued at approximately $29,740,135.88. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the sale, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,855 shares of company stock worth $13,299,928 over the last quarter. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at $28,000. Stone House Investment Management LLC acquired a new position in shares of Axon Enterprise during the third quarter worth $29,000. New Millennium Group LLC purchased a new position in Axon Enterprise in the third quarter valued at $29,000. Sound Income Strategies LLC increased its holdings in Axon Enterprise by 550.0% in the fourth 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 last quarter. Finally, Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the 4th quarter worth about $30,000. Institutional investors and hedge funds 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.