Axon Enterprise (AAXN) Trading Down 8.2%

Shares of Axon Enterprise Inc (NASDAQ:AAXN) traded down 8.2% on Wednesday . The company traded as low as $57.54 and last traded at $57.66. 1,078,331 shares were traded during trading, an increase of 14% from the average session volume of 949,311 shares. The stock had previously closed at $62.84.

A number of analysts have weighed in on the stock. Needham & Company LLC assumed coverage on shares of Axon Enterprise in a report on Friday, July 20th. They set a “buy” rating and a $80.00 price objective on the stock. Zacks Investment Research cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Raymond James began coverage on shares of Axon Enterprise in a report on Friday, September 14th. They set an “outperform” rating and a $79.00 price objective on the stock. BidaskClub raised shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a report on Friday, September 7th. Finally, Dougherty & Co cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $62.64.

The firm has a market cap of $3.99 billion, a P/E ratio of 224.07, a price-to-earnings-growth ratio of 5.34 and a beta of 1.01.

Axon Enterprise (NASDAQ:AAXN) last announced its earnings results on Tuesday, August 7th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $95.74 million. Axon Enterprise had a net margin of 5.35% and a return on equity of 11.80%. Equities analysts forecast that Axon Enterprise Inc will post 0.51 EPS for the current fiscal year.

In related news, Director Mark W. Kroll sold 3,100 shares of Axon Enterprise stock in a transaction 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 directly owns 55,135 shares in the company, valued at approximately $1,259,834.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction on Monday, October 1st. The shares were sold at an average price of $68.61, for a total transaction of $68,610.00. Following the completion of the transaction, the director now owns 37,261 shares in the company, valued at $2,556,477.21. The disclosure for this sale can be found here. Insiders sold a total of 39,297 shares of company stock worth $2,562,425 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

A number of large investors have recently bought and sold shares of AAXN. BlackRock Inc. grew its position in Axon Enterprise by 7.6% in the 2nd quarter. BlackRock Inc. now owns 9,083,739 shares of the industrial products company’s stock valued at $573,912,000 after buying an additional 637,690 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Axon Enterprise in the 2nd quarter valued at $16,797,000. Canada Pension Plan Investment Board purchased a new position in Axon Enterprise in the 2nd quarter valued at $14,197,000. Zevenbergen Capital Investments LLC purchased a new position in Axon Enterprise in the 2nd quarter valued at $10,420,000. Finally, WINTON GROUP Ltd purchased a new position in Axon Enterprise in the 1st quarter valued at $6,455,000. Hedge funds and other institutional investors own 82.23% of the company’s stock.

About Axon Enterprise (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.

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