Artemis Investment Management LLP Sells 140,126 Shares of Axon Enterprise, Inc $AXON

Artemis Investment Management LLP trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON) by 51.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,625 shares of the biotechnology company’s stock after selling 140,126 shares during the period. Artemis Investment Management LLP owned 0.16% of Axon Enterprise worth $54,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Everhart Financial Group Inc. grew its position in shares of Axon Enterprise by 4,709.9% during the 3rd quarter. Everhart Financial Group Inc. now owns 22,270 shares of the biotechnology company’s stock valued at $9,410,000 after buying an additional 21,807 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Axon Enterprise by 3,661.6% in the third quarter. Avidian Wealth Enterprises LLC now owns 62,818 shares of the biotechnology company’s stock valued at $26,542,000 after buying an additional 61,148 shares during the last quarter. Toth Financial Advisory Corp grew its position in Axon Enterprise by 99.2% in the 3rd quarter. Toth Financial Advisory Corp now owns 747 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 372 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in Axon Enterprise by 12,450.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 3,263 shares of the biotechnology company’s stock valued at $1,379,000 after acquiring an additional 3,237 shares in the last quarter. Finally, Retirement Wealth Solutions LLC boosted its position in Axon Enterprise by 239,400.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 2,395 shares of the biotechnology company’s stock worth $1,012,000 after acquiring an additional 2,394 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the sale, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is owned by insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded up $3.39 during trading hours on Thursday, hitting $409.39. 399,147 shares of the company’s stock traded hands, compared to its average volume of 1,050,204. The company’s fifty day simple moving average is $522.70 and its two-hundred day simple moving average is $477.18. The company has a market cap of $33.26 billion, a price-to-earnings ratio of 170.30, a price-to-earnings-growth ratio of 7.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $764.02.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AXON. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. UBS Group increased their price objective 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. Piper Sandler raised their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $721.57.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.