3,527 Axon Enterprise, Inc $AXON Shares Sold by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management reduced its Axon Enterprise stake by 10.3%, selling 3,527 shares and retaining 30,671 shares valued at approximately $12.96 million. Institutional investors collectively own 79.08% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $688.38, despite mixed target revisions from brokerages.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and adjusted earnings of $1.88 per share, exceeding analyst expectations. The stock opened at $423.17, well below its 52-week high of $762.08.

Motley Fool Asset Management LLC lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,671 shares of the biotechnology company's stock after selling 3,527 shares during the period. Motley Fool Asset Management LLC's holdings in Axon Enterprise were worth $12,959,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in Axon Enterprise by 122,993.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company's stock valued at $195,036,000 after acquiring an additional 461,226 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in Axon Enterprise during the second quarter worth $3,854,000. Arrowstreet Capital Limited Partnership bought a new stake in Axon Enterprise during the first quarter worth $15,067,000. Brown Lisle Cummings Inc. lifted its stake in Axon Enterprise by 97,231.4% during the second quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company's stock worth $19,098,000 after purchasing an additional 34,031 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Axon Enterprise by 40.7% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company's stock valued at $6,406,000 after purchasing an additional 4,360 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AXON. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research note on Tuesday. Northcoast Research boosted their price target on Axon Enterprise from $650.00 to $680.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Argus upped their price objective on Axon Enterprise from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Piper Sandler reduced their price objective on Axon Enterprise from $732.00 to $561.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 20th. Finally, Zacks Research upgraded Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $688.38.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 16,775 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the completion of the transaction, the president directly owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the completion of the transaction, the insider owned 56,264 shares of the company's stock, valued at $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 47,397 shares of company stock worth $26,722,984. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Price Performance

AXON stock opened at $423.17 on Thursday. The company has a 50 day simple moving average of $471.32 and a 200 day simple moving average of $483.20. The stock has a market cap of $34.38 billion, a price-to-earnings ratio of 175.59, a P/E/G ratio of 7.99 and a beta of 1.44. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $762.08. 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 issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the prior year, the firm earned $2.12 EPS. The firm's revenue was up 35.3% compared to the same quarter last year. Research analysts anticipate that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

About Axon Enterprise

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.