GSA Capital Partners LLP Lowers Position in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• GSA Capital Partners LLP reduced its stake in Axon Enterprise by 31.4%, selling 497 shares during the first quarter, leaving them with 1,084 shares valued at $570,000.
• Several institutional investors increased their stakes significantly, with Capital World Investors raising its shares by 86.4% during the fourth quarter, now owning over $1 billion in stock.
• Axon Enterprise reported earnings of $1.41 per share, exceeding analyst estimates and marking a 31.3% increase in revenue year-over-year, reaching $603.63 million.

GSA Capital Partners LLP lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 31.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,084 shares of the biotechnology company's stock after selling 497 shares during the quarter. GSA Capital Partners LLP's holdings in Axon Enterprise were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pinion Investment Advisors LLC grew its holdings in shares of Axon Enterprise by 3.0% during the first quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock worth $341,000 after purchasing an additional 19 shares during the last quarter. Kentucky Retirement Systems grew its holdings in shares of Axon Enterprise by 0.4% during the first quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after purchasing an additional 19 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Axon Enterprise by 0.8% during the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock worth $1,306,000 after purchasing an additional 19 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Axon Enterprise by 0.5% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,561 shares of the biotechnology company's stock valued at $1,873,000 after acquiring an additional 19 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Axon Enterprise by 4.6% in the first quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company's stock valued at $237,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Northland Securities set a $800.00 target price on Axon Enterprise in a report on Tuesday. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Raymond James Financial reiterated an "outperform" rating and issued a $855.00 target price (up from $645.00) on shares of Axon Enterprise in a report on Tuesday. Barclays upped their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Needham & Company LLC set a $870.00 target price on Axon Enterprise and gave the company a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Insider Activity at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $738.84, for a total transaction of $960,492.00. Following the transaction, the director directly owned 4,829 shares of the company's stock, valued at $3,567,858.36. This represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the sale, the director directly owned 17,740 shares of the company's stock, valued at $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,642 shares of company stock valued at $25,090,528 over the last three months. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Stock Down 2.8%

Shares of NASDAQ:AXON traded down $24.00 during trading on Friday, reaching $846.97. 446,725 shares of the stock were exchanged, compared to its average volume of 708,199. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.62. Axon Enterprise, Inc has a 1-year low of $346.71 and a 1-year high of $885.91. The stock has a fifty day moving average of $772.30 and a two-hundred day moving average of $663.05. The firm has a market cap of $66.49 billion, a price-to-earnings ratio of 209.13, a price-to-earnings-growth ratio of 19.36 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The company had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. During the same period in the prior year, the firm earned $1.20 earnings per share. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. Research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.