Chicago Capital LLC Cuts Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Chicago Capital LLC lessened its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 2.5% during the first quarter, Holdings Channel reports. The firm owned 22,765 shares of the biotechnology company’s stock after selling 593 shares during the period. Chicago Capital LLC’s holdings in Axon Enterprise were worth $11,973,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Axon Enterprise by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock valued at $5,019,886,000 after acquiring an additional 275,959 shares during the period. Geode Capital Management LLC grew its holdings in shares of Axon Enterprise by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after purchasing an additional 65,097 shares during the period. Capital World Investors grew its holdings in shares of Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the period. Alliancebernstein L.P. increased its position in Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after purchasing an additional 812,337 shares in the last quarter. Finally, Norges Bank purchased a new position in Axon Enterprise in the fourth quarter valued at approximately $482,081,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 9,905 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total value of $7,310,187.15. Following the completion of the transaction, the president now directly owns 298,809 shares in the company, valued at $220,530,006.27. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,737 shares of company stock valued at $29,797,795. Company insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on AXON shares. Bank of America boosted their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Craig Hallum cut Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. The Goldman Sachs Group increased their target price on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC boosted their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $699.55.

Axon Enterprise Stock Down 0.0%

Shares of Axon Enterprise stock opened at $780.61 on Tuesday. The business has a 50-day moving average price of $675.00 and a 200 day moving average price of $622.37. Axon Enterprise, Inc. has a fifty-two week low of $279.02 and a fifty-two week high of $806.64. The firm has a market cap of $60.77 billion, a P/E ratio of 201.71, a P/E/G ratio of 5.17 and a beta of 1.29. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same period in the prior year, the company posted $1.15 EPS. The business’s revenue was up 31.3% compared to the same quarter last year. On average, sell-side analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.