Axon Enterprise (NASDAQ:AXON) Trading Down 7.1% - Time to Sell?

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report)'s share price was down 7.1% on Thursday . The company traded as low as $746.11 and last traded at $748.73. Approximately 272,120 shares traded hands during trading, a decline of 61% from the average daily volume of 698,854 shares. The stock had previously closed at $805.86.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AXON shares. Needham & Company LLC upped their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays upped their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wolfe Research started coverage on Axon Enterprise in a research report on Monday. They set an "outperform" rating on the stock. Bank of America upped their price objective on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group upped their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and a consensus target price of $699.55.

Axon Enterprise Stock Up 1.6%

The stock has a market cap of $57.97 billion, a PE ratio of 179.87, a price-to-earnings-growth ratio of 92.76 and a beta of 1.29. The firm has a fifty day moving average of $750.64 and a 200 day moving average of $640.27. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. Axon Enterprise's revenue for the quarter was up 31.3% compared to the same quarter last year. On average, equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CRO Cameron Brooks sold 3,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the completion of the sale, the executive directly owned 19,447 shares of the company's stock, valued at $14,405,559.72. This represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the sale, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at approximately $11,762,384.40. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,642 shares of company stock worth $30,500,428. Insiders own 4.40% of the company's stock.

Institutional Trading of Axon Enterprise

Large investors have recently made changes to their positions in the company. TCTC Holdings LLC boosted its position in shares of Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in Axon Enterprise during the 4th quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC lifted its position in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 33 shares during the period. Banque Transatlantique SA acquired a new stake in Axon Enterprise during the 1st quarter worth approximately $31,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Axon Enterprise during the 1st quarter worth approximately $32,000. 79.08% of the stock is owned by institutional investors and hedge funds.

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.