Key Points
- Axon Enterprise President Joshua Isner sold 13,000 shares on June 5 at an average price of $488.45, totaling about $6.35 million. After the sale, he still owned 169,125 shares, a 7.14% reduction in his stake.
- Axon shares were down 3.1% and opened at $471.06, with the stock trading well below its 52-week high of $885.91. The company currently has a market value of $37.97 billion and a high valuation multiple.
- Axon recently beat quarterly earnings expectations, posting $1.61 EPS on revenue of $807.35 million, with revenue up 33.7% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $712.75.
Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) CRO Cameron Brooks sold 1,242 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares of the company's stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Axon Enterprise Stock Down 3.1%
Shares of NASDAQ AXON opened at $471.06 on Tuesday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The business has a 50-day moving average price of $408.45 and a 200 day moving average price of $491.12. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock has a market cap of $37.97 billion, a PE ratio of 189.18, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.91 million. During the same period last year, the firm earned $1.47 EPS. The firm's revenue for the quarter was up 33.7% on a year-over-year basis. Equities research analysts forecast that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.
Hedge Funds Weigh In On Axon Enterprise
Large investors have recently modified their holdings of the business. Brighton Jones LLC purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $480,000. NewEdge Advisors LLC increased its stake in Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock valued at $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC increased its stake in Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock valued at $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP increased its stake in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock valued at $3,646,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise in the 2nd quarter valued at approximately $284,000. 79.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Piper Sandler decreased their price objective on Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Citigroup reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Craig Hallum reaffirmed a "buy" rating and set a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, Citizens Jmp decreased their price objective on Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $712.75.
Check Out Our Latest Analysis on AXON
Axon Enterprise Company Profile
(
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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