Axon Enterprise, Inc (NASDAQ:AXON) CEO Patrick W. Smith Sells 10,000 Shares

Key Points

• Axon Enterprise's CEO, Patrick W. Smith, sold 10,000 shares at an average price of $831.29, totaling approximately $8.31 million, but still retains over 3 million shares valued at nearly $2.54 billion.
• The company's stock price has recently seen a 6.1% decline, trading down to $768.57, while its market capitalization stands at $60.33 billion.
• Axon reported better-than-expected earnings for the last quarter, with an EPS of $2.12 compared to the consensus estimate of $1.54, and a revenue increase of 32.6% year-over-year.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,053,982 shares in the company, valued at $2,538,744,696.78. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Axon Enterprise Trading Up 0.6%

NASDAQ AXON traded up $4.41 on Friday, hitting $754.24. 583,176 shares of the stock were exchanged, compared to its average volume of 783,867. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The company has a market capitalization of $59.21 billion, a price-to-earnings ratio of 186.23, a P/E/G ratio of 27.68 and a beta of 1.36. The company's 50-day moving average price is $773.85 and its two-hundred day moving average price is $670.30.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. During the same period in the previous year, the company posted $1.20 EPS. Axon Enterprise's revenue was up 32.6% on a year-over-year basis. Research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Upgrades and Downgrades

AXON has been the topic of several research reports. Northland Securities set a $800.00 price objective on Axon Enterprise in a research report on Tuesday, August 5th. Barclays upped their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Wolfe Research started coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Finally, Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average price target of $837.69.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of AXON. TCTC Holdings LLC lifted its position in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC increased its stake in Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 33 shares during the period. Banque Transatlantique SA bought a new stake in Axon Enterprise in the first quarter valued at about $31,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Axon Enterprise in the first quarter valued at about $32,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Company Profile

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.