Shares of Axon Enterprise, Inc (NASDAQ:AXON – Get Free Report) traded up 7.7% during trading on Monday . The company traded as high as $569.60 and last traded at $568.1680. Approximately 72,477 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,061,518 shares. The stock had previously closed at $527.76.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on AXON shares. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Needham & Company LLC boosted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $710.64.
Read Our Latest Report on Axon Enterprise
Axon Enterprise Stock Performance
Axon Enterprise (NASDAQ:AXON – Get Free Report) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s revenue was up 33.7% on a year-over-year basis. Sell-side analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Patrick W. Smith sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the transaction, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,989 shares of company stock worth $30,527,983 over the last 90 days. 4.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Axon Enterprise
Several institutional investors have recently modified their holdings of AXON. Vanguard Group Inc. raised its position in Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after buying an additional 53,060 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after acquiring an additional 35,544 shares during the period. Baillie Gifford & Co. grew its stake in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after acquiring an additional 1,516,099 shares during the period. Sands Capital Management LLC grew its stake in shares of Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after acquiring an additional 167,095 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.
About Axon Enterprise
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.
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