Axon Enterprise (NASDAQ:AXON) Shares Down 5.8% – Should You Sell?

Axon Enterprise, Inc (NASDAQ:AXON)’s share price fell 5.8% on Monday . The company traded as low as $564.14 and last traded at $565.83. Approximately 342,833 shares were traded during trading, a decline of 67% from the average session volume of 1,044,843 shares. The stock had previously closed at $600.73.

Analyst Ratings Changes

Several brokerages have recently issued reports on AXON. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Barclays lifted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Piper Sandler increased their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Stock Performance

The stock has a 50-day moving average of $560.75 and a 200 day moving average of $483.34. The firm has a market capitalization of $45.82 billion, a P/E ratio of 234.02, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter last year, the business posted $2.12 earnings per share. Axon Enterprise’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, research analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In related news, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 75,401 shares of company stock worth $40,670,843 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several large investors have recently added to or reduced their stakes in AXON. Rockefeller Capital Management L.P. boosted its position in Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after acquiring an additional 4,002 shares during the last quarter. Legal & General Group Plc boosted its stake in Axon Enterprise by 1.3% in the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after buying an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $13,116,000. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Axon Enterprise during the 2nd quarter worth about $3,854,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Axon Enterprise in the first quarter valued at $15,067,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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.