Plato Investment Management Ltd Trims Stock Holdings in Axon Enterprise, Inc $AXON

Plato Investment Management Ltd trimmed its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 57.0% in the second quarter, Holdings Channel reports. The institutional investor owned 666 shares of the biotechnology company’s stock after selling 884 shares during the quarter. Plato Investment Management Ltd’s holdings in Axon Enterprise were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. TCTC Holdings LLC grew its position in shares of Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 24 shares in the last quarter. Banque Transatlantique SA purchased a new position in Axon Enterprise during the 1st quarter valued at about $31,000. Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise during the 1st quarter valued at about $32,000. Flaharty Asset Management LLC purchased a new position in Axon Enterprise during the 1st quarter valued at about $33,000. Finally, Hemington Wealth Management grew its holdings in Axon Enterprise by 70.8% during the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 17 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $870.00 price objective on shares of Axon Enterprise in a research note on Wednesday, September 24th. Piper Sandler started coverage on shares of Axon Enterprise in a research report on Tuesday, September 23rd. They set an “overweight” rating and a $893.00 price target for the company. UBS Group restated a “neutral” rating and set a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Bank of America boosted their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $841.64.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the completion of the sale, the chief executive officer directly owned 3,053,982 shares in the company, valued at $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the sale, the chief financial officer owned 93,592 shares of the company’s stock, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,932 shares of company stock worth $45,115,616 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Axon Enterprise Stock Down 0.9%

Shares of AXON opened at $732.23 on Monday. The firm has a market cap of $57.48 billion, a P/E ratio of 180.80, a P/E/G ratio of 29.49 and a beta of 1.41. The stock has a 50 day simple moving average of $731.05 and a two-hundred day simple moving average of $733.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a 1 year low of $422.38 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Axon Enterprise’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, 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.