Axon Enterprise (AAXN) Shares Gap Down to $50.70

Axon Enterprise Inc (NASDAQ:AAXN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $46.60, but opened at $50.70. Axon Enterprise shares last traded at $51.27, with a volume of 21782 shares trading hands.

Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Robert W. Baird upgraded shares of Axon Enterprise from a “neutral” rating to an “outperform” rating in a research note on Friday. LADENBURG THALM/SH SH restated a “buy” rating and set a $77.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 8th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “hold” rating and upped their target price for the company from $55.00 to $62.00 in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Finally, Imperial Capital upgraded shares of Axon Enterprise from an “in-line” rating to an “outperform” rating and upped their target price for the company from $50.00 to $62.00 in a research note on Wednesday, August 8th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $64.82.

The stock has a market cap of $2.96 billion, a P/E ratio of 193.52, a PEG ratio of 3.95 and a beta of 1.00.

Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. Axon Enterprise had a net margin of 6.26% and a return on equity of 10.74%. The firm had revenue of $104.84 million during the quarter, compared to analyst estimates of $103.06 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts predict that Axon Enterprise Inc will post 0.51 EPS for the current year.

In related news, Director Mark W. Kroll sold 3,100 shares of the stock in a transaction that occurred on Sunday, December 16th. The shares were sold at an average price of $22.85, for a total value of $70,835.00. Following the completion of the sale, the director now directly owns 55,135 shares of the company’s stock, valued at approximately $1,259,834.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $68.00, for a total transaction of $68,000.00. Following the completion of the sale, the director now directly owns 38,261 shares of the company’s stock, valued at $2,601,748. The disclosure for this sale can be found here. Insiders have sold a total of 38,197 shares of company stock valued at $2,471,656 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its holdings in Axon Enterprise by 1,515.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 1,515 shares in the last quarter. BerganKDV Wealth Management LLC purchased a new stake in Axon Enterprise in the 2nd quarter worth approximately $126,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Axon Enterprise in the 2nd quarter worth approximately $147,000. First Mercantile Trust Co. increased its holdings in Axon Enterprise by 100.0% in the 3rd quarter. First Mercantile Trust Co. now owns 2,400 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in Axon Enterprise in the 2nd quarter worth approximately $175,000. 81.80% of the stock is owned by institutional investors.

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Axon Enterprise Company Profile (NASDAQ:AAXN)

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

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