Axon Enterprise, Inc $AXON Stock Holdings Lowered by CenterBook Partners LP

Key Points

• CenterBook Partners LP cut its Axon Enterprise stake by 32.5% in the fourth quarter, leaving it with 4,863 shares valued at about $2.76 million.
• Several other institutional investors adjusted positions as well, while institutions still hold 79.08% of Axon’s stock; insiders also sold shares recently, including CEO Patrick W. Smith’s $10 million sale under a 10b5-1 plan.
• Axon reported quarterly EPS of $1.61, slightly above estimates, on revenue of $807.35 million that rose 33.7% year over year; analysts currently rate the stock a Moderate Buy with a consensus target of $712.75.

CenterBook Partners LP lowered its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 32.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,863 shares of the biotechnology company's stock after selling 2,345 shares during the period. CenterBook Partners LP's holdings in Axon Enterprise were worth $2,762,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new position in Axon Enterprise in the 4th quarter valued at about $480,000. NewEdge Advisors LLC grew its position in Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock valued at $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC grew its position in Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock valued at $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP grew its position in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock valued at $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in Axon Enterprise in the 2nd quarter valued at about $284,000. Institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 20,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the transaction, the chief executive officer owned 3,060,997 shares of the company's stock, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their position. 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 90 days, insiders have sold 39,344 shares of company stock worth $19,267,315. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $471.06 on Tuesday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $408.45 and a 200-day moving average of $491.12. The firm has a market cap of $37.97 billion, a price-to-earnings ratio of 189.18, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AXON shares. Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Citizens Jmp decreased their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating for the company in a research report on Thursday, May 7th. Citigroup reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Piper Sandler decreased their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $712.75.

Axon Enterprise 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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