Axon Enterprise, Inc $AXON Shares Sold by Defender Capital LLC.

Key Points

• Defender Capital reduced its Axon Enterprise stake by 3.5% in the third quarter, selling 2,575 shares and retaining 71,910 shares valued at approximately $30.4 million. Institutional investors collectively own 79.08% of AXON.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $721.57; 14 analysts rate the stock Buy and three rate it Hold.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and EPS of $1.88, exceeding estimates. However, the stock traded at $422.21 and carried a high price-to-earnings ratio of 175.19.

Defender Capital LLC. lowered its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,910 shares of the biotechnology company's stock after selling 2,575 shares during the period. Axon Enterprise makes up about 9.5% of Defender Capital LLC.'s portfolio, making the stock its 4th largest holding. Defender Capital LLC. owned approximately 0.09% of Axon Enterprise worth $30,383,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pure Financial Advisors LLC lifted its stake in Axon Enterprise by 6.7% during the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 23 shares during the last quarter. Keel Point LLC increased its position in Axon Enterprise by 4.4% in the 1st quarter. Keel Point LLC now owns 599 shares of the biotechnology company's stock valued at $254,000 after acquiring an additional 25 shares during the period. Bridgewater Advisors Inc. increased its holdings in Axon Enterprise by 4.4% in the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company's stock valued at $352,000 after purchasing an additional 26 shares during the period. Roman Butler Fullerton & Co. raised its position in shares of Axon Enterprise by 2.4% during the first quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company's stock worth $500,000 after acquiring an additional 30 shares during the last quarter. Finally, 44 Wealth Management LLC raised its holdings in Axon Enterprise by 6.0% during the 1st quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 30 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AXON. The Goldman Sachs Group restated a "buy" rating and issued a $715.00 target price on shares of Axon Enterprise in a research note on Thursday, August 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Citigroup reiterated a "market outperform" rating on shares of Axon Enterprise in a research note on Thursday, September 17th. Finally, Piper Sandler increased their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $721.57.

Axon Enterprise Price Performance

NASDAQ AXON traded down $0.31 on Thursday, reaching $422.21. 828,891 shares of the company's stock traded hands, compared to its average volume of 1,053,384. The stock has a market cap of $34.30 billion, a PE ratio of 175.19, a P/E/G ratio of 7.90 and a beta of 1.40. The stock has a 50-day simple moving average of $533.23 and a 200 day simple moving average of $480.22. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $764.02. 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 announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. During the same period last year, the firm earned $2.12 earnings per share. The company's revenue for the quarter was up 35.3% compared to the same quarter last year. As a group, research analysts predict that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Isaiah Fields sold 1,017 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. This represents a 1.78% decrease in their position. The transaction was disclosed in a 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 Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares of the company's stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their position. 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. In the last three months, insiders sold 57,397 shares of company stock worth $33,160,884. 4.20% of the stock is owned by company insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.

Want to see what other hedge funds are holding AXON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axon Enterprise, Inc (NASDAQ:AXON - Free Report).

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.