Axon Enterprise, Inc $AXON Shares Sold by Munro Partners

Munro Partners reduced its position in Axon Enterprise, Inc (NASDAQ:AXON) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,662 shares of the biotechnology company’s stock after selling 31,780 shares during the quarter. Axon Enterprise comprises approximately 1.4% of Munro Partners’ investment portfolio, making the stock its 26th largest position. Munro Partners’ holdings in Axon Enterprise were worth $55,465,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its stake in Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after purchasing an additional 15 shares during the last quarter. Wealth Alliance LLC raised its stake in Axon Enterprise by 3.2% in the 3rd quarter. Wealth Alliance LLC now owns 583 shares of the biotechnology company’s stock valued at $419,000 after purchasing an additional 18 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Axon Enterprise by 0.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock valued at $2,848,000 after purchasing an additional 19 shares during the last quarter. CWA Asset Management Group LLC raised its stake in Axon Enterprise by 5.2% in the 4th quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company’s stock valued at $220,000 after purchasing an additional 19 shares during the last quarter. Finally, Synergy Financial Group LTD raised its stake in Axon Enterprise by 1.4% in the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock valued at $996,000 after purchasing an additional 19 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company’s stock, valued at $21,125,200. This trade represents a 3.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,989 shares of company stock worth $19,090,083 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. UBS Group cut their target price on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada cut their target price on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Finally, Needham & Company LLC cut their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $443.21 on Tuesday. The stock has a market cap of $35.72 billion, a PE ratio of 178.00, a P/E/G ratio of 8.03 and a beta of 1.45. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The stock has a fifty day simple moving average of $410.95 and a 200-day simple moving average of $488.34.

Axon Enterprise (NASDAQ:AXON) last released its quarterly 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. The business had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 EPS. Equities analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Axon Enterprise Company 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.