Axon Enterprise, Inc $AXON Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,155 shares of the biotechnology company's stock after selling 20,928 shares during the quarter. First Trust Advisors LP owned about 0.10% of Axon Enterprise worth $32,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXON. Vanguard Group Inc. grew its position in Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Axon Enterprise by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after buying an additional 35,544 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after buying an additional 1,516,099 shares during the last quarter. Sands Capital Management LLC boosted its position in shares of Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after buying an additional 167,095 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after buying an additional 1,179,038 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXON. UBS Group lowered their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Piper Sandler boosted their price target on Axon Enterprise from $674.00 to $724.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings upgraded Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Finally, Needham & Company LLC raised their price target on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Monday, July 6th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $725.25.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $547.65 on Wednesday. The stock has a market cap of $44.14 billion, a price-to-earnings ratio of 219.94, a PEG ratio of 10.72 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The stock's 50 day moving average price is $488.89 and its 200 day moving average price is $477.58.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. During the same period last year, the company posted $1.47 EPS. The firm's quarterly revenue was up 33.7% on a year-over-year basis. Equities research analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Joshua Isner sold 13,000 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the transaction, the director directly owned 3,632 shares of the company's stock, valued at $1,739,619.04. This represents a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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