Motley Fool Wealth Management LLC Cuts Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Motley Fool Wealth Management LLC reduced its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,678 shares of the biotechnology company’s stock after selling 2,260 shares during the period. Axon Enterprise accounts for about 1.5% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Motley Fool Wealth Management LLC’s holdings in Axon Enterprise were worth $27,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sands Capital Management LLC boosted its position in shares of Axon Enterprise by 31.1% during the 3rd quarter. Sands Capital Management LLC now owns 2,612,305 shares of the biotechnology company’s stock valued at $519,823,000 after acquiring an additional 619,179 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Axon Enterprise by 184.3% during the third quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock valued at $138,535,000 after purchasing an additional 451,350 shares in the last quarter. Polar Capital Holdings Plc lifted its position in Axon Enterprise by 292.0% during the third quarter. Polar Capital Holdings Plc now owns 265,464 shares of the biotechnology company’s stock valued at $52,825,000 after purchasing an additional 197,746 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Axon Enterprise by 28.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 726,400 shares of the biotechnology company’s stock worth $144,546,000 after buying an additional 160,359 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Axon Enterprise in the 4th quarter worth about $39,907,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Up 0.6 %

Shares of AXON stock traded up $1.99 during mid-day trading on Friday, hitting $308.23. The stock had a trading volume of 300,741 shares, compared to its average volume of 413,361. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66. The firm’s 50-day moving average is $304.22 and its two-hundred day moving average is $261.92. The firm has a market capitalization of $23.26 billion, a P/E ratio of 134.01 and a beta of 0.93.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.29. The company had revenue of $432.14 million during the quarter, compared to analyst estimates of $418.97 million. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. On average, analysts predict that Axon Enterprise, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley lifted their price target on Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research report on Wednesday. Barclays increased their price target on Axon Enterprise from $296.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.91.

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.