Axon Enterprise, Inc. (NASDAQ:AXON) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 31.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,667 shares of the biotechnology company’s stock after selling 73,315 shares during the period. Axon Enterprise makes up about 4.0% of Granahan Investment Management LLC’s investment portfolio, making the stock its biggest position. Granahan Investment Management LLC’s holdings in Axon Enterprise were worth $96,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AXON. New Wave Wealth Advisors LLC bought a new stake in Axon Enterprise during the 4th quarter worth about $40,000. Y.D. More Investments Ltd bought a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $45,000. Stonebridge Financial Group LLC acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $53,000. GPS Wealth Strategies Group LLC boosted its stake in Axon Enterprise by 74.1% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 40 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new stake in shares of Axon Enterprise during the 4th quarter valued at $59,000. 79.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AXON shares. Barclays raised their price target on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC boosted their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday. Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their price objective on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $640.91.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 307 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $899,275.44. This represents a 15.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Axon Enterprise Trading Down 0.3 %

Shares of NASDAQ:AXON opened at $684.59 on Friday. The firm has a market cap of $53.29 billion, a price-to-earnings ratio of 176.90, a PEG ratio of 5.17 and a beta of 1.24. Axon Enterprise, Inc. has a 12 month low of $273.52 and a 12 month high of $715.99. The company’s fifty day simple moving average is $564.50 and its 200 day simple moving average is $583.86. 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 issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 earnings per share. As a group, research analysts forecast that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

About Axon Enterprise

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.