Axon Enterprise (NASDAQ:AXON) Shares Down 5.8% – Should You Sell?

Axon Enterprise, Inc (NASDAQ:AXON) shares were down 5.8% during mid-day trading on Monday . The stock traded as low as $564.14 and last traded at $565.83. 342,833 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,044,843 shares. The stock had previously closed at $600.73.

Wall Street Analyst Weigh In

AXON has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 price target on shares of Axon Enterprise in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Price Performance

The stock has a fifty day moving average price of $560.75 and a 200-day moving average price of $483.34. The company has a market cap of $45.82 billion, a PE ratio of 234.02, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.Axon Enterprise’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, equities analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the transaction, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 75,401 shares of company stock valued at $40,670,843 in the last ninety days. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds have recently bought and sold shares of AXON. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $28,000. Keating Financial Advisory Services Inc. bought a new stake in Axon Enterprise during the second quarter worth approximately $31,000. AlphaCentric Advisors LLC acquired a new position in Axon Enterprise during the fourth quarter valued at approximately $34,000. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise in the second quarter valued at approximately $37,000. Finally, Washington Trust Advisors Inc. raised its position in shares of Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 65 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

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.