Intech Investment Management LLC Cuts Stock Position in Axon Enterprise, Inc $AXON

Intech Investment Management LLC cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 71.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,617 shares of the biotechnology company’s stock after selling 48,032 shares during the period. Intech Investment Management LLC’s holdings in Axon Enterprise were worth $11,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the period. Geode Capital Management LLC increased its stake in Axon Enterprise by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after purchasing an additional 35,544 shares during the period. Baillie Gifford & Co. increased its stake in Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after purchasing an additional 1,516,099 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Axon Enterprise by 23.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock worth $476,089,000 after purchasing an additional 156,647 shares during the period. Finally, Northern Trust Corp increased its stake in Axon Enterprise by 1.6% during the third quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company’s stock worth $533,871,000 after purchasing an additional 11,726 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Up 2.1%

AXON stock opened at $448.72 on Friday. The company’s 50 day moving average price is $407.53 and its 200 day moving average price is $494.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 180.21, a PEG ratio of 7.99 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. During the same period in the prior year, the firm earned $1.47 earnings per share. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities research analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research note on Thursday, May 7th. Needham & Company LLC cut their target price on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Robert W. Baird set a $800.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. TD Cowen cut their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Finally, William Blair restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Insiders Place Their Bets

In related 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 transaction, the chief accounting officer directly owned 12,240 shares of the company’s stock, valued at $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erika Nardini sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the transaction, the director directly owned 1,946 shares of the company’s stock, valued at $985,804.68. This trade represents a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,855 shares of company stock valued at $1,837,408. 4.20% of the stock is owned by company insiders.

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.