Axon Enterprise Inc (NASDAQ:AAXN) dropped 8.2% during trading on Wednesday . The stock traded as low as $57.54 and last traded at $57.66. Approximately 1,078,331 shares changed hands during trading, an increase of 14% from the average daily volume of 949,311 shares. The stock had previously closed at $62.84.

AAXN has been the topic of several research analyst reports. Imperial Capital upgraded shares of Axon Enterprise from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $62.00 in a research report on Wednesday, August 8th. Zacks Investment Research lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. TheStreet lowered shares of Axon Enterprise from a “b-” rating to a “c” rating in a research report on Thursday, August 9th. BidaskClub lowered shares of Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Finally, Dougherty & Co lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Monday, August 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $62.64.

The stock has a market capitalization of $3.99 billion, a P/E ratio of 224.07, a PEG ratio of 5.34 and a beta of 1.01.

Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. Axon Enterprise had a net margin of 5.35% and a return on equity of 11.80%. The business had revenue of $99.23 million for the quarter, compared to analyst estimates of $95.74 million. Equities analysts forecast that Axon Enterprise Inc will post 0.51 earnings per share for the current fiscal year.

In related news, insider Douglas E. Klint sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $69.82, for a total value of $1,745,500.00. Following the sale, the insider now directly owns 104,341 shares in the company, valued at approximately $7,285,088.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark W. Kroll sold 3,100 shares of the business’s stock in a transaction dated Sunday, December 16th. The stock was sold at an average price of $22.85, for a total transaction of $70,835.00. Following the completion of the sale, the director now owns 55,135 shares in the company, valued at $1,259,834.75. The disclosure for this sale can be found here. Insiders sold a total of 39,297 shares of company stock worth $2,562,425 over the last quarter. Insiders own 3.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Mason Street Advisors LLC raised its stake in Axon Enterprise by 6.9% in the 1st quarter. Mason Street Advisors LLC now owns 14,712 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 950 shares during the last quarter. Amalgamated Bank raised its stake in Axon Enterprise by 13.9% in the 2nd quarter. Amalgamated Bank now owns 8,566 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 1,043 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Axon Enterprise by 19.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,776 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 1,113 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Axon Enterprise by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 25,081 shares of the industrial products company’s stock valued at $1,585,000 after purchasing an additional 1,274 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Axon Enterprise by 9.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 18,801 shares of the industrial products company’s stock valued at $1,187,000 after purchasing an additional 1,680 shares during the last quarter. 82.23% of the stock is owned by hedge funds and other institutional investors.

About Axon Enterprise (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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