Patrick W. Smith Sells 47,314 Shares of Axon Enterprise, Inc. (NASDAQ:AXON) Stock

Axon Enterprise, Inc. (NASDAQ:AXON) CEO Patrick W. Smith sold 47,314 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the completion of the transaction, the chief executive officer now directly owns 2,983,802 shares of the company’s stock, valued at approximately $1,193,729,666.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Axon Enterprise Price Performance

Shares of AXON traded up $5.29 during trading hours on Wednesday, reaching $404.51. The company had a trading volume of 587,995 shares, compared to its average volume of 521,773. Axon Enterprise, Inc. has a 12-month low of $190.01 and a 12-month high of $405.99. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $30.53 billion, a price-to-earnings ratio of 118.28, a PEG ratio of 10.59 and a beta of 0.94. The firm has a 50 day simple moving average of $359.52 and a 200-day simple moving average of $321.46.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AXON. ICA Group Wealth Management LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth $26,000. Blue Trust Inc. grew its holdings in shares of Axon Enterprise by 987.5% during the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new stake in Axon Enterprise in the first quarter valued at $31,000. First PREMIER Bank acquired a new position in shares of Axon Enterprise during the first quarter valued at $33,000. Finally, Rise Advisors LLC grew its position in shares of Axon Enterprise by 49.0% during the first quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 47 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective for the company. Robert W. Baird boosted their price objective on Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Craig Hallum upped their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Bank of America initiated coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and an average target price of $365.38.

About Axon Enterprise

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.