Axon Enterprise (NASDAQ:AXON) Insider Jeffrey C. Kunins Sells 7,891 Shares

Key Points

• Jeffrey C. Kunins, an insider at Axon Enterprise, sold 7,891 shares for approximately $5.92 million, reducing his ownership by 5.18%.
• Axon Enterprise reported a 32.6% increase in quarterly revenue, reaching $668.54 million, and exceeded earnings per share estimates with $2.12 EPS.
• Analysts have a consensus price target of $837.69 for the stock, with several firms upgrading their ratings and price objectives in recent reports.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the transaction, the insider owned 144,538 shares of the company's stock, valued at $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded up $2.60 during trading on Wednesday, hitting $760.89. The stock had a trading volume of 409,636 shares, compared to its average volume of 811,097. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 12 month low of $346.71 and a 12 month high of $885.91. The firm has a market cap of $59.73 billion, a price-to-earnings ratio of 187.87, a P/E/G ratio of 27.83 and a beta of 1.36. The business's 50-day moving average is $773.57 and its 200 day moving average is $672.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm's revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds have recently made changes to their positions in AXON. Capital World Investors raised its position in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the period. Vestor Capital LLC boosted its position in Axon Enterprise by 438,636.3% during the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company's stock valued at $690,170,000 after buying an additional 833,409 shares during the period. Norges Bank bought a new position in shares of Axon Enterprise during the second quarter valued at about $637,806,000. GAMMA Investing LLC increased its holdings in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after buying an additional 763,431 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Axon Enterprise by 23,203.7% in the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after buying an additional 611,418 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays raised their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Raymond James Financial reissued an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Bank of America raised their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JMP Securities upped their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC set a $870.00 target price on Axon Enterprise and gave the company a "buy" rating in a research note on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $837.69.

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.