Axon Enterprise, Inc $AXON Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 71.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,528 shares of the biotechnology company’s stock after selling 11,176 shares during the quarter. Cibc World Market Inc.’s holdings in Axon Enterprise were worth $2,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Avestar Capital LLC lifted its position in shares of Axon Enterprise by 76.9% during the 4th quarter. Avestar Capital LLC now owns 950 shares of the biotechnology company’s stock valued at $540,000 after acquiring an additional 413 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Axon Enterprise by 32.9% during the 4th quarter. CIBC Asset Management Inc now owns 43,953 shares of the biotechnology company’s stock valued at $24,962,000 after acquiring an additional 10,870 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Axon Enterprise by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 715,622 shares of the biotechnology company’s stock valued at $406,423,000 after purchasing an additional 12,315 shares in the last quarter. Kesler Norman & Wride LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at $301,000. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Axon Enterprise by 53.2% in the fourth quarter. Bridges Investment Management Inc. now owns 967 shares of the biotechnology company’s stock valued at $549,000 after purchasing an additional 336 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Trading Down 3.1%

Axon Enterprise stock opened at $471.06 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The company has a market capitalization of $37.97 billion, a price-to-earnings ratio of 189.18, a PEG ratio of 8.84 and a beta of 1.45. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The company’s fifty day moving average price is $408.45 and its two-hundred day moving average price is $491.12.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a report on Thursday, May 7th. Citizens Jmp reduced their target price on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. TD Cowen reduced their target price on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Royal Bank Of Canada reduced their target price on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Barclays reduced their target price on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $712.75.

Insider Activity

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the transaction, the executive directly owned 49,710 shares of the company’s stock, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 39,344 shares of company stock valued at $19,267,315. Corporate insiders own 4.20% of the company’s stock.

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.