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

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of unusually large options trading on Monday. Stock traders purchased 3,449 put options on the stock. This represents an increase of approximately 45% compared to the typical volume of 2,376 put options.

Insider Buying and Selling

In other Axon Enterprise news, CFO Brittany Bagley sold 3,400 shares of Axon Enterprise stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total value of $2,380,000.00. Following the completion of the transaction, the chief financial officer now directly owns 131,833 shares of the company’s stock, valued at $92,283,100. This trade represents a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the transaction, the director now directly owns 17,740 shares of the company’s stock, valued at $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,969 shares of company stock worth $29,909,594. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AXON. Brighton Jones LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $480,000. Choreo LLC raised its holdings in shares of Axon Enterprise by 77.8% in the fourth quarter. Choreo LLC now owns 2,091 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 915 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Axon Enterprise by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 1,527 shares of the biotechnology company’s stock worth $908,000 after buying an additional 20 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Axon Enterprise by 13.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 180,817 shares of the biotechnology company’s stock worth $107,463,000 after buying an additional 21,495 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Axon Enterprise by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,200 shares of the biotechnology company’s stock worth $4,873,000 after buying an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Bank of America lifted their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC lifted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $699.55.

Axon Enterprise Price Performance

Shares of AXON opened at $762.66 on Wednesday. The company has a 50 day moving average price of $652.86 and a 200-day moving average price of $618.42. Axon Enterprise has a fifty-two week low of $279.02 and a fifty-two week high of $806.64. The stock has a market capitalization of $59.37 billion, a PE ratio of 197.07, a PEG ratio of 5.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The firm had revenue of $603.63 million during the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter in the prior year, the company earned $1.15 EPS. The company’s revenue was up 31.3% compared to the same quarter last year. Equities analysts predict that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

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.