Axon Enterprise, Inc. (NASDAQ:AXON) CEO Sells $29,853,934.00 in Stock

Axon Enterprise, Inc. (NASDAQ:AXON) CEO Patrick W. Smith sold 80,300 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the completion of the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at approximately $1,121,052,771.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded up $2.94 on Tuesday, hitting $363.43. The company had a trading volume of 285,960 shares, compared to its average volume of 521,510. Axon Enterprise, Inc. has a 1-year low of $189.12 and a 1-year high of $378.89. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 105.56, a P/E/G ratio of 9.99 and a beta of 0.95. The stock has a 50 day moving average price of $319.49 and a 200 day moving average price of $305.70. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. During the same period in the prior year, the company posted $0.80 earnings per share. Axon Enterprise’s revenue was up 34.5% compared to the same quarter last year. Analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AXON. Barclays boosted their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $375.00 price objective on shares of Axon Enterprise in a research report on Wednesday, August 7th. Robert W. Baird upped their price target on shares of Axon Enterprise from $355.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America started coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $358.08.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new stake in Axon Enterprise during the fourth quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 79 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new position in shares of Axon Enterprise in the first quarter worth about $31,000. First PREMIER Bank bought a new position in shares of Axon Enterprise in the first quarter worth about $33,000. Finally, Blue Bell Private Wealth Management LLC bought a new position in shares of Axon Enterprise in the first quarter worth about $41,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.