Insider Selling: Axon Enterprise, Inc. (NASDAQ:AXON) CEO Sells 75,000 Shares of Stock

Axon Enterprise, Inc. (NASDAQ:AXON) CEO Patrick W. Smith sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $356.53, for a total transaction of $26,739,750.00. Following the completion of the sale, the chief executive officer now owns 2,970,366 shares of the company’s stock, valued at $1,059,024,589.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Axon Enterprise Trading Down 0.1 %

NASDAQ AXON opened at $354.62 on Friday. The company has a market capitalization of $26.76 billion, a PE ratio of 103.69, a P/E/G ratio of 9.78 and a beta of 0.95. The company has a fifty day moving average of $331.40 and a 200 day moving average of $310.85. Axon Enterprise, Inc. has a 1 year low of $189.12 and a 1 year high of $378.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The company had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Research analysts forecast that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AXON shares. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 7th. Northland Securities raised their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Craig Hallum lifted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird lifted their price objective on shares of Axon Enterprise from $355.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.08.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after acquiring an additional 212,401 shares during the period. Sands Capital Management LLC raised its position in shares of Axon Enterprise by 0.6% in the fourth quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock worth $679,060,000 after acquiring an additional 16,347 shares during the period. Norges Bank acquired a new position in shares of Axon Enterprise in the fourth quarter worth about $195,406,000. Westfield Capital Management Co. LP raised its position in shares of Axon Enterprise by 5.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock worth $189,025,000 after acquiring an additional 35,528 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Axon Enterprise by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,757 shares of the biotechnology company’s stock worth $150,027,000 after acquiring an additional 15,840 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.