Key Points
- Axon CEO Patrick Smith sold 10,000 shares on January 7 at an average price of $619.01 for $6,190,100, trimming his stake by 0.32% to 3,100,997 shares valued at about $1.92 billion.
- Axon missed EPS estimates in its Nov. 5 quarter, reporting $1.17 EPS vs. $1.63 expected, although revenue rose 30.6% year-over-year to $710.6 million; analysts hold a consensus "Moderate Buy" with a $805.71 target price.
- The stock trades near $613 with a market capitalization of about $48.4 billion, a high trailing P/E (~194), a one-year range of $469.24–$885.91, and roughly 79% institutional ownership.
Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) CEO Patrick Smith sold 10,000 shares of the business's stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $619.01, for a total transaction of $6,190,100.00. Following the completion of the sale, the chief executive officer directly owned 3,100,997 shares of the company's stock, valued at $1,919,548,152.97. The trade was a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Axon Enterprise Stock Performance
Shares of AXON stock opened at $612.98 on Friday. The stock has a market capitalization of $48.37 billion, a price-to-earnings ratio of 193.98, a PEG ratio of 19.55 and a beta of 1.41. Axon Enterprise, Inc has a one year low of $469.24 and a one year high of $885.91. The company's 50-day simple moving average is $574.87 and its 200-day simple moving average is $689.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same quarter in the previous year, the company earned $1.45 EPS. The company's quarterly revenue was up 30.6% compared to the same quarter last year. Equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.
Analysts Set New Price Targets
AXON has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a research note on Monday, December 29th. Piper Sandler dropped their price objective on shares of Axon Enterprise from $893.00 to $753.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 5th. Cowen restated a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Wall Street Zen cut Axon Enterprise from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Finally, Barclays reduced their price objective on Axon Enterprise from $861.00 to $702.00 and set an "overweight" rating for the company in a research report on Thursday, November 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $805.71.
Check Out Our Latest Research Report on AXON
Hedge Funds Weigh In On Axon Enterprise
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new stake in Axon Enterprise during the 3rd quarter valued at $29,000. New Millennium Group LLC acquired a new position in shares of Axon Enterprise during the third quarter valued at $29,000. Flaharty Asset Management LLC bought a new stake in shares of Axon Enterprise during the first quarter valued at about $33,000. Hemington Wealth Management lifted its holdings in Axon Enterprise by 70.8% in the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 17 shares during the period. Finally, Whipplewood Advisors LLC increased its stake in Axon Enterprise by 192.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company's stock valued at $34,000 after buying an additional 27 shares during the period. 79.08% of the stock is owned by institutional investors.
About Axon Enterprise
(
Get Free Report)
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.
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