Axon Enterprise (NASDAQ:AXON) Insider Sells $488,617.65 in Stock

Axon Enterprise, Inc (NASDAQ:AXON) insider Isaiah Fields sold 1,017 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Axon Enterprise Stock Performance

AXON stock opened at $468.42 on Thursday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $792.16. The stock has a market capitalization of $38.05 billion, a price-to-earnings ratio of 194.37, a PEG ratio of 8.32 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock’s fifty day moving average is $552.43 and its two-hundred day moving average is $488.02.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company’s quarterly revenue was up 35.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current year.

More Axon Enterprise News

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon priced $1 billion of 0% convertible senior notes due 2031, with underwriters able to purchase an additional $150 million. The zero-coupon structure limits immediate cash-interest expense and gives Axon capital for general corporate purposes, including growth investments, acquisitions, capital expenditures and working capital. Update: Axon Enterprise Shares Rise After it Prices $1 Billion Convertible Notes Offering
• Positive Sentiment: The completed transaction may reduce near-term liquidity concerns following reports that Axon’s cash position and free-cash-flow needs had come under investor scrutiny. It also provides additional financial flexibility for expanding its connected public-safety hardware and software platform. Axon Announces Pricing of $1.0 Billion Offering of 0% Convertible Senior Notes Due 2031
• Neutral Sentiment: Axon has attracted substantial investor attention, while analysts continue to weigh strong growth prospects and a deepening competitive moat against a high valuation and limited margin of safety. Axon Enterprise: The Moat Is Getting Deeper, But the Margin of Safety Remains Thin
• Negative Sentiment: Convertible notes can dilute existing shareholders if converted into stock, creating a continuing overhang. The debt raise also highlights investor concerns about cash generation and financing needs, which initially prompted a sharp selloff. Why Axon Enterprise Stock Was Tumbling Today
• Negative Sentiment: An insider sale worth approximately $489,000 was disclosed, although it was executed under a pre-arranged Rule 10b5-1 trading plan and therefore provides a weaker bearish signal than discretionary selling. Insider Selling: Axon Enterprise

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors have recently added to or reduced their stakes in AXON. Bouchey Financial Group Ltd. acquired a new position in shares of Axon Enterprise during the 2nd quarter valued at $215,000. The Manufacturers Life Insurance Company boosted its stake in Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after buying an additional 3,496,493 shares in the last quarter. Barbara Oil Co. grew its holdings in Axon Enterprise by 100.0% during the second quarter. Barbara Oil Co. now owns 3,390 shares of the biotechnology company’s stock worth $2,046,000 after acquiring an additional 1,695 shares during the period. Sequoia Financial Advisors LLC raised its position in Axon Enterprise by 1.4% in the second quarter. Sequoia Financial Advisors LLC now owns 4,443 shares of the biotechnology company’s stock worth $2,491,000 after acquiring an additional 63 shares in the last quarter. Finally, National Pension Service raised its position in Axon Enterprise by 18.4% in the second quarter. National Pension Service now owns 118,234 shares of the biotechnology company’s stock worth $66,283,000 after acquiring an additional 18,398 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on AXON shares. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Barclays boosted their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, Piper Sandler lifted their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $721.57.

About Axon Enterprise

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.