Key Points
- Axon insider Isaiah Fields sold 1,017 shares for approximately $488,618 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct holdings by 1.78% to 56,264 shares.
- Axon’s latest quarterly results exceeded expectations, with EPS of $1.88 versus $1.84 forecast and revenue of $904.39 million, up 35.3% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $721.57, despite the stock’s elevated valuation.
Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) insider Isaiah Fields sold 1,017 shares of the firm's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider directly owned 56,264 shares in the company, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Axon Enterprise Stock Up 2.3%
AXON opened at $490.18 on Tuesday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $792.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock has a market capitalization of $39.82 billion, a P/E ratio of 203.40, a price-to-earnings-growth ratio of 9.02 and a beta of 1.40. The business's 50-day simple moving average is $559.03 and its 200-day simple moving average is $489.15.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business's revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. Analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on AXON shares. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Citizens Jmp reiterated a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Piper Sandler increased their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $721.57.
Read Our Latest Stock Analysis on Axon Enterprise
Institutional Trading of Axon Enterprise
Hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $28,000. Keating Financial Advisory Services Inc. purchased a new position in Axon Enterprise in the 2nd quarter valued at $31,000. Washington Trust Advisors Inc. increased its stake in Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock valued at $39,000 after buying an additional 65 shares during the period. Delos Wealth Advisors LLC acquired a new position in Axon Enterprise in the 2nd quarter valued at $45,000. Finally, Owl Creek Wealth Partners LLC increased its stake in Axon Enterprise by 84.8% in the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company's stock valued at $48,000 after buying an additional 39 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.
Axon Enterprise Company Profile
(
Get Free Report)
Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.
The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.
Further Reading
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