Axon Enterprise, Inc $AXON Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 19.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,899 shares of the biotechnology company’s stock after selling 971 shares during the period. Strategic Advisors LLC’s holdings in Axon Enterprise were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at $480,000. NewEdge Advisors LLC lifted its holdings in Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the period. Empowered Funds LLC lifted its holdings in Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares during the period. Woodline Partners LP lifted its holdings in Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Axon Enterprise in the 2nd quarter valued at about $284,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,401 shares of company stock worth $40,670,843. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citizens Jmp reissued a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $715.00 price target on shares of Axon Enterprise in a research note on Thursday, August 6th. 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, JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $600.73 on Monday. The stock has a 50-day simple moving average of $560.75 and a 200 day simple moving average of $483.34. The stock has a market capitalization of $48.80 billion, a P/E ratio of 249.27, a P/E/G ratio of 9.75 and a beta of 1.39. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $792.16. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same period in the previous year, the business earned $2.12 earnings per share. Axon Enterprise’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, sell-side analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share 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.