Patrick Smith Sells 10,000 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick Smith sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the sale, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Performance

AXON stock opened at $479.34 on Friday. The firm has a market cap of $38.94 billion, a PE ratio of 198.90, a price-to-earnings-growth ratio of 9.01 and a beta of 1.40. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $561.67 and a 200-day moving average price of $488.36. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $792.16.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, equities research analysts expect that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on AXON. Morgan Stanley raised their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. UBS Group upped their target price on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $721.57.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its holdings in shares of Axon Enterprise by 53.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after purchasing an additional 4,002 shares during the last quarter. Legal & General Group Plc boosted its holdings in Axon Enterprise by 1.3% during the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after purchasing an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Axon Enterprise during the fourth quarter worth about $13,116,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Axon Enterprise in the 2nd quarter worth about $3,854,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Axon Enterprise in the 1st quarter worth about $15,067,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.