Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year Low – Time to Sell?

Axon Enterprise, Inc (NASDAQ:AXON) shares hit a new 52-week low during trading on Monday . The company traded as low as $463.85 and last traded at $464.06, with a volume of 673449 shares traded. The stock had previously closed at $483.58.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXON. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Barclays dropped their price target on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. UBS Group reduced their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Finally, Piper Sandler dropped their target price on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

Axon Enterprise Stock Down 4.9%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. The firm has a market capitalization of $36.30 billion, a PE ratio of 145.57, a PEG ratio of 14.57 and a beta of 1.41. The company has a fifty day moving average price of $578.34 and a 200-day moving average price of $668.58.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. During the same period last year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In other news, CAO Jennifer H. Mak sold 1,134 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares of the company’s stock, valued at approximately $8,244,000. The trade was a 7.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey C. Kunins sold 1,797 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total value of $968,996.31. Following the completion of the sale, the insider owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. This represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 60,540 shares of company stock worth $34,684,738. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock valued at $5,319,928,000 after acquiring an additional 53,060 shares during the period. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 5.9% during the second quarter. Geode Capital Management LLC now owns 2,072,186 shares of the biotechnology company’s stock valued at $1,713,332,000 after purchasing an additional 115,349 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the period. Jennison Associates LLC grew its holdings in shares of Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after purchasing an additional 330,213 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Axon Enterprise by 23.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock worth $476,089,000 after buying an additional 156,647 shares during the period. Institutional investors own 79.08% of the company’s stock.

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.