Granahan Investment Management LLC Sells 1,737 Shares of Axon Enterprise, Inc $AXON

Granahan Investment Management LLC lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,714 shares of the biotechnology company’s stock after selling 1,737 shares during the quarter. Axon Enterprise comprises approximately 1.8% of Granahan Investment Management LLC’s portfolio, making the stock its 15th biggest holding. Granahan Investment Management LLC’s holdings in Axon Enterprise were worth $43,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after buying an additional 15 shares in the last quarter. Wealth Alliance LLC lifted its holdings in shares of Axon Enterprise by 3.2% in the third quarter. Wealth Alliance LLC now owns 583 shares of the biotechnology company’s stock worth $419,000 after buying an additional 18 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Axon Enterprise by 0.5% in the third quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock worth $2,848,000 after buying an additional 19 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Axon Enterprise by 5.2% in the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company’s stock worth $220,000 after buying an additional 19 shares in the last quarter. Finally, Synergy Financial Group LTD lifted its holdings in shares of Axon Enterprise by 1.4% in the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock worth $996,000 after buying an additional 19 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a report on Thursday, May 7th. Citigroup reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. TD Cowen lowered their price target 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. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $712.75.

Insiders Place Their Bets

In related news, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive directly owned 49,710 shares of the company’s stock, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Axon Enterprise stock in a transaction that occurred 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. This trade represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,989 shares of company stock valued at $19,090,083 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Down 1.8%

Shares of AXON opened at $435.39 on Wednesday. The firm’s 50 day simple moving average is $411.40 and its 200 day simple moving average is $487.65. The company has a market capitalization of $35.09 billion, a P/E ratio of 174.86, a P/E/G ratio of 8.06 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The business 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%. Axon Enterprise’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. Sell-side analysts forecast that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

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.