Axon Enterprise (NASDAQ:AXON) Trading Down 4.6% – Time to Sell?

Shares of Axon Enterprise, Inc (NASDAQ:AXON) fell 4.6% during trading on Tuesday . The company traded as low as $533.37 and last traded at $533.29. 157,741 shares traded hands during trading, a decline of 85% from the average session volume of 1,039,728 shares. The stock had previously closed at $559.06.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXON. UBS Group cut their price target on Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Royal Bank Of Canada reduced their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Craig Hallum reissued a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Needham & Company LLC reduced their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average price target of $762.93.

Axon Enterprise Price Performance

The firm has a 50 day moving average price of $535.65 and a two-hundred day moving average price of $615.42. The company has a market cap of $42.94 billion, a P/E ratio of 351.38, a P/E/G ratio of 12.25 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53.

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

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on 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 sale, the insider owned 55,588 shares in the company, valued at $29,740,135.88. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brittany Bagley sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was 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 directly owned 103,501 shares of the company’s stock, valued at $60,030,580. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,634 shares of company stock valued at $14,963,095. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $480,000. NewEdge Advisors LLC raised its position in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC boosted its stake in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP grew its position in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the second quarter worth about $284,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.