Axon Enterprise, Inc $AXON Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its Axon Enterprise stake by 71% in the fourth quarter, selling 48,032 shares and leaving it with 19,617 shares worth about $11.1 million.
• Despite some mixed analyst moves, Wall Street remains broadly positive on AXON, with a consensus rating of Moderate Buy and an average price target of $712.75.
• Axon recently beat earnings expectations, reporting $1.61 EPS on revenue of $807.35 million, while shares were trading around $448.72 and insiders also disclosed recent stock sales.

Intech Investment Management LLC lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 71.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,617 shares of the biotechnology company's stock after selling 48,032 shares during the quarter. Intech Investment Management LLC's holdings in Axon Enterprise were worth $11,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. New Millennium Group LLC acquired a new position in shares of Axon Enterprise during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Axon Enterprise during the 2nd quarter valued at about $37,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $28,000. Sound Income Strategies LLC boosted its position in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AXON. Royal Bank Of Canada lowered their price target on shares of Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Zacks Research raised shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

Insider Activity at Axon Enterprise

In related news, insider Isaiah Fields sold 2,000 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the sale, the insider directly owned 52,813 shares in the company, valued at approximately $21,125,200. The trade was a 3.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erika Nardini sold 198 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the sale, the director owned 1,946 shares in the company, valued at approximately $985,804.68. This trade represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,855 shares of company stock valued at $1,837,408 in the last quarter. Corporate insiders own 4.20% of the company's stock.

Axon Enterprise Stock Up 2.1%

Shares of AXON opened at $448.72 on Friday. The firm has a market cap of $36.17 billion, a P/E ratio of 180.21, a price-to-earnings-growth ratio of 7.99 and a beta of 1.44. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The company's 50-day moving average price is $407.53 and its 200 day moving average price is $494.65. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise's revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

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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