Axon Enterprise, Inc $AXON Shares Sold by Silvant Capital Management LLC

Silvant Capital Management LLC cut its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,074 shares of the biotechnology company’s stock after selling 1,142 shares during the period. Silvant Capital Management LLC’s holdings in Axon Enterprise were worth $8,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. boosted its stake in shares of Axon Enterprise by 2.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock worth $421,000 after buying an additional 14 shares during the last quarter. Vicus Capital raised its position in Axon Enterprise by 3.7% during the third quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 14 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after acquiring an additional 15 shares during the period. STF Management LP boosted its position in Axon Enterprise by 1.4% in the 2nd quarter. STF Management LP now owns 1,164 shares of the biotechnology company’s stock worth $964,000 after purchasing an additional 16 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Axon Enterprise by 2.5% during the 3rd quarter. Blue Trust Inc. now owns 645 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Trading Down 5.2%

Shares of AXON opened at $529.97 on Wednesday. Axon Enterprise, Inc has a 52-week low of $396.41 and a 52-week high of $885.91. The stock has a market cap of $42.61 billion, a PE ratio of 348.67, a price-to-earnings-growth ratio of 11.93 and a beta of 1.46. The firm’s fifty day moving average is $534.81 and its two-hundred day moving average is $613.75. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.55. The firm had revenue of $796.72 million for the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the firm posted $2.08 earnings per share. Research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the sale, the chief accounting officer directly owned 12,240 shares in the company, valued at $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brittany Bagley sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $580.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief financial officer directly owned 103,501 shares of the company’s stock, valued at approximately $60,030,580. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,634 shares of company stock valued at $14,963,095. 5.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXON. Piper Sandler cut their target price on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Needham & Company LLC cut their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada lowered their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a research note on Tuesday, January 6th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $762.93.

Axon Enterprise 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.