Fred Alger Management LLC Lowers Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Fred Alger Management LLC decreased its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,836 shares of the biotechnology company's stock after selling 1,099 shares during the period. Fred Alger Management LLC's holdings in Axon Enterprise were worth $17,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $40,000. Y.D. More Investments Ltd acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $45,000. Stonebridge Financial Group LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $53,000. GPS Wealth Strategies Group LLC raised its position in shares of Axon Enterprise by 74.1% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company's stock valued at $56,000 after buying an additional 40 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Axon Enterprise stock traded down $2.24 during midday trading on Friday, hitting $684.59. The company's stock had a trading volume of 642,401 shares, compared to its average volume of 764,683. Axon Enterprise, Inc. has a 1-year low of $273.52 and a 1-year high of $715.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The company has a 50-day moving average price of $564.50 and a two-hundred day moving average price of $585.83. The company 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 (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million during the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The business's revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc. will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 3,063,982 shares of the company's stock, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeri Williams sold 307 shares of the company's stock in a transaction on 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 sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AXON has been the topic of a number of analyst reports. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. JMP Securities reissued an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Barclays upped their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday. The Goldman Sachs Group upped 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, Needham & Company LLC upped their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $640.91.

Axon Enterprise 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.