Silvant Capital Management LLC Cuts Stock Position in Axon Enterprise, Inc $AXON

Silvant Capital Management LLC decreased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,074 shares of the biotechnology company’s stock after selling 1,142 shares during the period. Silvant Capital Management LLC’s holdings in Axon Enterprise were worth $8,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AXON. Quadrant Capital Group LLC lifted its position in shares of Axon Enterprise by 0.5% during the third quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock worth $2,848,000 after purchasing an additional 19 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Axon Enterprise in the third quarter valued at approximately $60,000. Legal & General Group Plc grew its holdings in shares of Axon Enterprise by 3.1% in the third quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company’s stock valued at $302,208,000 after purchasing an additional 12,736 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in Axon Enterprise by 5.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 5,036 shares of the biotechnology company’s stock worth $3,615,000 after buying an additional 265 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Axon Enterprise during the 3rd quarter worth approximately $3,869,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $529.97 on Wednesday. The stock’s 50-day simple moving average is $534.81 and its 200-day simple moving average is $613.75. The firm has a market capitalization of $42.61 billion, a PE ratio of 348.67, a price-to-earnings-growth ratio of 11.93 and a beta of 1.46. Axon Enterprise, Inc has a fifty-two week low of $396.41 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 earnings per share. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, CFO Brittany Bagley sold 2,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $580.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief financial officer owned 103,501 shares in the company, valued at approximately $60,030,580. This represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the transaction, the chief executive officer directly owned 3,090,997 shares in the company, valued at $1,546,240,339.28. This trade represents a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,634 shares of company stock worth $14,963,095. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AXON shares. Craig Hallum reissued a “buy” rating and issued a $820.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. Needham & Company LLC reduced their price target on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Barclays decreased their price objective on Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research report on Tuesday, January 6th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $762.93.

Axon Enterprise Company Profile

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.