Axon Enterprise (NASDAQ:AXON) Shares Down 14.4%

Axon Enterprise, Inc. (NASDAQ:AXON – Get Rating) fell 14.4% during mid-day trading on Thursday . The stock traded as low as $98.85 and last traded at $98.85. 16,392 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 351,126 shares. The stock had previously closed at $115.54.

Several brokerages have issued reports on AXON. Needham & Company LLC decreased their price target on shares of Axon Enterprise from $250.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Northland Securities decreased their price target on shares of Axon Enterprise from $220.00 to $180.00 in a research report on Monday, February 28th. JPMorgan Chase & Co. upgraded shares of Axon Enterprise from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $222.00 to $192.00 in a research report on Friday, February 25th. Robert W. Baird reiterated a “buy” rating and set a $175.00 price objective on shares of Axon Enterprise in a research report on Friday, February 25th. Finally, Zacks Investment Research upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Friday, March 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $193.38.

The stock has a market capitalization of $7.03 billion, a P/E ratio of -105.55 and a beta of 0.55. The business’s 50 day simple moving average is $128.91 and its two-hundred day simple moving average is $146.37.

Axon Enterprise (NASDAQ:AXON – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). Axon Enterprise had a negative net margin of 6.95% and a negative return on equity of 5.62%. The business had revenue of $217.58 million during the quarter, compared to the consensus estimate of $202.65 million. During the same period last year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Research analysts expect that Axon Enterprise, Inc. will post 0.83 EPS for the current year.

In related news, CFO Jawad A. Ahsan sold 4,840 shares of the firm’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $141.17, for a total transaction of $683,262.80. Following the transaction, the chief financial officer now directly owns 360,019 shares of the company’s stock, valued at $50,823,882.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc purchased a new stake in Axon Enterprise during the first quarter worth about $27,000. Retirement Planning Co of New England Inc. purchased a new stake in Axon Enterprise during the fourth quarter worth about $31,000. Tyler Stone Wealth Management purchased a new stake in Axon Enterprise during the fourth quarter worth about $32,000. Assetmark Inc. purchased a new position in shares of Axon Enterprise in the third quarter worth about $35,000. Finally, Sageworth Trust Co of South Dakota purchased a new position in shares of Axon Enterprise in the fourth quarter worth about $37,000. 72.06% of the stock is currently owned by institutional investors.

Axon Enterprise Company Profile (NASDAQ:AXON)

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, TASER, and Software and Sensors. 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.

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