Los Angeles Capital Management LLC Lowers Stock Holdings in Axon Enterprise, Inc $AXON

Los Angeles Capital Management LLC cut its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,523 shares of the biotechnology company’s stock after selling 1,863 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Axon Enterprise were worth $8,248,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Needham & Company LLC reduced their target price on shares of 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 cut their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, TD Cowen cut their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Insider Buying and Selling

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the completion of the sale, the director owned 3,632 shares of the company’s stock, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,344 shares of company stock valued at $19,267,315 over the last quarter. Insiders own 4.20% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $471.06 on Tuesday. The firm has a market cap of $37.97 billion, a price-to-earnings ratio of 189.18, a PEG ratio of 8.84 and a beta of 1.45. The company’s 50 day moving average is $408.45 and its 200 day moving average is $491.12. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

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.