Insider Selling: Axon Enterprise (NASDAQ:AXON) Insider Sells $6,019,453.50 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) insider Jeffrey Kunins sold 9,605 shares of Axon Enterprise stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider directly owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a 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 Down 0.9%

Shares of NASDAQ:AXON opened at $607.48 on Thursday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The business’s 50-day moving average is $553.45 and its 200-day moving average is $480.77. The company has a market capitalization of $49.35 billion, a price-to-earnings ratio of 252.07, a P/E/G ratio of 9.95 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analysts’ expectations 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 was up 35.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. Equities research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AXON. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. Zacks Research cut shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $730.92.

Institutional Trading of Axon Enterprise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in Axon Enterprise by 55,955.7% in the 2nd quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company’s stock valued at $36,317,352,000 after buying an additional 64,666,282 shares during the last quarter. Edgewood Management LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth approximately $846,516,000. Wellington Management Group LLP boosted 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 during the last quarter. Norges Bank bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $515,764,000. Finally, Bank of America Corp DE bought a new position in shares of Axon Enterprise in the second quarter valued at approximately $286,684,000. 79.08% of the stock is owned by 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.