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

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 20,000 shares of the stock in a transaction that occurred 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 owned 3,060,997 shares in the company, valued at $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Performance

AXON traded down $15.06 during trading on Monday, hitting $471.06. The company’s stock had a trading volume of 941,797 shares, compared to its average volume of 1,098,205. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The firm has a market cap of $37.97 billion, a PE ratio of 189.18, a P/E/G ratio of 8.84 and a beta of 1.45. The business’s 50 day simple moving average is $408.04 and its 200-day simple moving average is $491.56.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company’s revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm earned $1.47 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors have recently bought and sold shares of AXON. Baillie Gifford & Co. grew its stake in shares of Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Edgewood Management LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $846,516,000. Wellington Management Group LLP grew its stake in shares of Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after buying an additional 1,179,038 shares in the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise in the 4th quarter worth $515,764,000. Finally, Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after buying an additional 376,904 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Craig Hallum restated a “buy” rating and set a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price objective on shares of Axon Enterprise in a research report on Thursday, May 7th. Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Needham & Company LLC decreased their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One equities 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

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.