Insider Selling: Axon Enterprise (NASDAQ:AXON) Director Sells 629 Shares of Stock

Key Points

• Axon Enterprise director Jeri Williams sold 629 shares on June 1 at an average price of $469.64, generating about $295,404 in proceeds. The sale reduced her holdings by 35.54% and was executed under a pre-arranged Rule 10b5-1 trading plan.
• Williams also sold 157 shares on March 17 at an average price of $490.00, indicating additional insider selling activity earlier in the year.
• Axon recently reported better-than-expected quarterly results, with EPS of $1.61 and revenue of $807.35 million, up 33.7% year over year. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $712.75.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) Director Jeri Williams sold 629 shares of Axon Enterprise stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $469.64, for a total transaction of $295,403.56. Following the completion of the transaction, the director owned 1,141 shares of the company's stock, valued at $535,859.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeri Williams also recently made the following trade(s):

• On Tuesday, March 17th, Jeri Williams sold 157 shares of Axon Enterprise stock. The shares were sold at an average price of $490.00, for a total transaction of $76,930.00.

Axon Enterprise Stock Performance

Axon Enterprise stock traded up $13.24 during mid-day trading on Tuesday, reaching $490.12. The company's stock had a trading volume of 1,280,466 shares, compared to its average volume of 1,090,685. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The company has a market capitalization of $39.50 billion, a P/E ratio of 196.84, a PEG ratio of 8.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The firm's fifty day moving average price is $407.02 and its two-hundred day moving average price is $493.35.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. During the same period in the previous year, the business earned $1.47 EPS. Axon Enterprise's revenue was up 33.7% compared to the same quarter last year. Sell-side analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Institutional Trading of Axon Enterprise

A number of hedge funds have recently made changes to their positions in the stock. Evergreen Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock worth $342,000 after acquiring an additional 15 shares during the last quarter. Wealth Alliance LLC lifted its holdings in shares of Axon Enterprise by 3.2% during the 3rd quarter. Wealth Alliance LLC now owns 583 shares of the biotechnology company's stock worth $419,000 after acquiring an additional 18 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Axon Enterprise by 0.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company's stock worth $2,848,000 after acquiring an additional 19 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Axon Enterprise by 5.2% during the 4th quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company's stock worth $220,000 after acquiring an additional 19 shares during the last quarter. Finally, Synergy Financial Group LTD lifted its holdings in shares of Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock worth $996,000 after acquiring an additional 19 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AXON. Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Citizens Jmp reduced their price target on shares of 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. JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Barclays reduced their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $712.75.

About Axon Enterprise

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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