Axon Enterprise, Inc $AXON Holdings Lowered by Strategic Advisors LLC

Strategic Advisors LLC trimmed its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 19.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,899 shares of the biotechnology company’s stock after selling 971 shares during the period. Strategic Advisors LLC’s holdings in Axon Enterprise were worth $2,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Axon Enterprise during the 4th quarter worth about $480,000. NewEdge Advisors LLC lifted its stake in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP boosted its holdings in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of Axon Enterprise in the second quarter worth approximately $284,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 9,930 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at approximately $1,663,358,637.59. This trade represents a 0.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,401 shares of company stock worth $40,670,843 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $600.73 on Monday. The firm has a market cap of $48.80 billion, a price-to-earnings ratio of 249.27, a P/E/G ratio of 9.75 and a beta of 1.39. The stock has a 50-day simple moving average of $560.75 and a 200-day simple moving average of $483.34. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $792.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 earnings per share. On average, equities research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AXON. UBS Group boosted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Barclays raised their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.