Axon Enterprise, Inc $AXON Stock Position Trimmed by Jag Capital Management LLC

Key Points

• Jag Capital Management LLC trimmed its Axon Enterprise stake by 46% in the fourth quarter, selling 12,143 shares and leaving it with 14,281 shares valued at about $8.1 million.
• Axon’s latest quarterly results beat expectations, with EPS of $1.61 and revenue of $807.35 million, up 33.7% year over year.
• Analysts remain generally positive on the stock despite multiple price-target cuts, with a Moderate Buy consensus and an average target price of $712.75.

Jag Capital Management LLC cut its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,281 shares of the biotechnology company's stock after selling 12,143 shares during the quarter. Jag Capital Management LLC's holdings in Axon Enterprise were worth $8,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise during the 4th quarter worth about $28,000. New Millennium Group LLC bought a new stake in shares of Axon Enterprise during the 3rd quarter worth about $29,000. Sound Income Strategies LLC raised 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 worth $30,000 after buying an additional 44 shares in the last quarter. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise during the 4th quarter worth about $30,000. Finally, Root Financial Partners LLC bought a new stake in shares of Axon Enterprise during the 3rd quarter worth about $34,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on AXON shares. Barclays dropped their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. TD Cowen dropped their price target on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. UBS Group dropped their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada dropped 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. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $712.75.

Axon Enterprise Stock Performance

Shares of AXON opened at $392.34 on Wednesday. The firm's 50 day moving average is $425.17 and its 200-day moving average is $508.74. The stock has a market capitalization of $31.62 billion, a P/E ratio of 157.57, a P/E/G ratio of 9.39 and a beta of 1.44. 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.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business's revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS. Equities research analysts anticipate that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the transaction, the insider owned 55,588 shares of the company's stock, valued at $29,740,135.88. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,855 shares of company stock worth $7,109,828. 4.20% of the stock is owned by insiders.

About Axon Enterprise

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.

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.