Axon Enterprise (AAXN) Shares Down 6.5%

Shares of Axon Enterprise Inc (NASDAQ:AAXN) dropped 6.5% during mid-day trading on Monday . The stock traded as low as $68.37 and last traded at $68.67. Approximately 889,823 shares traded hands during trading, a decline of 10% from the average daily volume of 983,602 shares. The stock had previously closed at $73.41.

AAXN has been the subject of several research analyst reports. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $77.00 target price on shares of Axon Enterprise in a research report on Wednesday, August 8th. BidaskClub cut Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Needham & Company LLC initiated coverage on Axon Enterprise in a research report on Friday, July 20th. They set a “buy” rating and a $80.00 target price for the company. JPMorgan Chase & Co. set a $66.00 target price on Axon Enterprise and gave the stock a “buy” rating in a research report on Monday, May 21st. Finally, TheStreet cut Axon Enterprise from a “b-” rating to a “c” rating in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.64.

The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 265.63, a P/E/G ratio of 5.45 and a beta of 1.10.

Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.11. The business had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $95.74 million. Axon Enterprise had a return on equity of 11.80% and a net margin of 5.35%. research analysts anticipate that Axon Enterprise Inc will post 0.52 earnings per share for the current year.

In other Axon Enterprise news, Director Mark W. Kroll sold 7,097 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $64.34, for a total transaction of $456,620.98. Following the completion of the transaction, the director now owns 24,105 shares in the company, valued at approximately $1,550,915.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark W. Kroll sold 3,100 shares of the firm’s stock in a transaction that occurred on Sunday, December 16th. The shares were sold at an average price of $22.85, for a total value of $70,835.00. Following the transaction, the director now owns 55,135 shares of the company’s stock, valued at approximately $1,259,834.75. The disclosure for this sale can be found here. Insiders have sold a total of 38,297 shares of company stock valued at $2,493,815 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BerganKDV Wealth Management LLC purchased a new position in Axon Enterprise during the 2nd quarter valued at approximately $126,000. Benjamin F. Edwards & Company Inc. purchased a new position in Axon Enterprise during the 2nd quarter valued at approximately $147,000. Advisors Preferred LLC purchased a new position in Axon Enterprise during the 2nd quarter valued at approximately $175,000. Brighton Jones LLC purchased a new position in Axon Enterprise during the 2nd quarter valued at approximately $202,000. Finally, Chicago Equity Partners LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at approximately $224,000. Institutional investors and hedge funds own 82.24% of the company’s stock.

Axon Enterprise Company Profile (NASDAQ:AAXN)

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

Further Reading: Intrinsic Value

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