Axon Enterprise Sees Unusually High Options Volume (NASDAQ:AXON)

Axon Enterprise, Inc. (NASDAQ:AXON) saw unusually large options trading on Monday. Traders bought 3,449 put options on the company. This is an increase of approximately 45% compared to the typical daily volume of 2,376 put options.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the transaction, the director now directly owns 17,740 shares of the company’s stock, valued at $13,482,400. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,969 shares of company stock valued at $29,909,594. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AXON. Anderson Financial Strategies LLC bought a new position in Axon Enterprise in the first quarter worth approximately $526,000. Strs Ohio bought a new position in Axon Enterprise in the first quarter worth approximately $45,265,000. Wealth Management Associates Inc. raised its position in Axon Enterprise by 2.5% in the first quarter. Wealth Management Associates Inc. now owns 5,022 shares of the biotechnology company’s stock worth $2,641,000 after acquiring an additional 122 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Axon Enterprise by 11.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,065 shares of the biotechnology company’s stock valued at $1,086,000 after purchasing an additional 218 shares during the period. Finally, IFM Investors Pty Ltd raised its position in shares of Axon Enterprise by 1.3% during the 1st quarter. IFM Investors Pty Ltd now owns 14,501 shares of the biotechnology company’s stock valued at $7,627,000 after purchasing an additional 185 shares during the period. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Needham & Company LLC lifted their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Craig Hallum cut Axon Enterprise from a “buy” rating to a “cautious” rating in a report on Monday, March 10th. Barclays boosted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $699.55.

Axon Enterprise Stock Down 2.7%

AXON opened at $762.66 on Wednesday. The company has a 50 day moving average of $652.86 and a 200 day moving average of $618.42. The company has a market cap of $59.37 billion, a PE ratio of 197.07, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29. Axon Enterprise has a 12 month low of $279.02 and a 12 month high of $806.64. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The company had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter last year, the company earned $1.15 EPS. The firm’s revenue was up 31.3% compared to the same quarter last year. On average, sell-side analysts expect that Axon Enterprise will post 5.8 EPS for the current year.

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.