2,409 Axon Enterprise, Inc $AXON Shares Sold by Choreo LLC

Key Points

• Choreo LLC cut its Axon stake by 54.3% in the third quarter, selling 2,409 shares and ending the period with 2,026 shares valued at about $856,000.
• Axon’s latest reported quarter beat analyst expectations, with EPS of $1.88 versus $1.84 expected and revenue of $904.39 million; revenue grew 35.3% year over year.
• Analyst sentiment remained positive: the stock carried a “Moderate Buy” consensus rating and an average price target of $688.38, while 79.08% of shares were held by institutional investors.

Choreo LLC trimmed its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 54.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,026 shares of the biotechnology company's stock after selling 2,409 shares during the quarter. Choreo LLC's holdings in Axon Enterprise were worth $856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock worth $119,724,905,000 after acquiring an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock valued at $7,400,094,000 after acquiring an additional 13,127,348 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Axon Enterprise by 391,214.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company's stock worth $2,952,943,000 after purchasing an additional 6,987,098 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company's stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Axon Enterprise by 8,432.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $416.57 on Wednesday. The stock has a market cap of $33.84 billion, a PE ratio of 172.85, a price-to-earnings-growth ratio of 8.09 and a beta of 1.48. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $719.92. The firm has a fifty day moving average price of $455.77 and a 200-day moving average price of $479.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise's revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.12 EPS. Equities analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axon Enterprise news, insider Isaiah Fields sold 1,017 shares of the firm's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the sale, the insider directly owned 56,264 shares of the company's stock, valued at $27,032,038.80. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXON. TD Cowen lowered their target price on Axon Enterprise from $825.00 to $800.00 and set a "buy" rating on the stock in a research report on Monday, October 26th. UBS Group upped their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Morgan Stanley upped their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Citigroup reaffirmed a "market outperform" rating on shares of Axon Enterprise in a research note on Monday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $688.38.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company's portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.

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