Axon Enterprise, Inc (NASDAQ:AXON) Stake Reduced by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in Axon Enterprise by 3.7%, holding 10,089 shares valued at approximately $5.3 million.
• Several institutional investors have increased their positions significantly, with GAMMA Investing LLC raising its stake by over 58,000% to own 764,731 shares now worth $402.2 million.
• Axon Enterprise reported better-than-expected quarterly earnings, with $2.12 earnings per share beating estimates by $0.58, and a 32.6% year-over-year revenue increase to $668.54 million.

Mutual of America Capital Management LLC cut its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,089 shares of the biotechnology company's stock after selling 388 shares during the period. Mutual of America Capital Management LLC's holdings in Axon Enterprise were worth $5,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Fourth Dimension Wealth LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter worth $30,000. Bartlett & CO. Wealth Management LLC lifted its position in shares of Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Axon Enterprise during the first quarter worth about $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Axon Enterprise during the first quarter worth about $40,000. Finally, Elequin Capital LP acquired a new stake in Axon Enterprise in the fourth quarter valued at approximately $46,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXON has been the topic of a number of research reports. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. UBS Group reaffirmed a "neutral" rating and set a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Barclays lifted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group lifted their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Bank of America lifted their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Stock Down 1.2%

Axon Enterprise stock traded down $9.89 during midday trading on Monday, hitting $832.61. 114,252 shares of the company were exchanged, compared to its average volume of 705,739. The company's fifty day moving average price is $774.27 and its 200-day moving average price is $665.44. The company has a market cap of $65.36 billion, a PE ratio of 205.58, a price-to-earnings-growth ratio of 30.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91.

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

Insider Buying and Selling

In other Axon Enterprise 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brittany Bagley sold 3,400 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total value of $2,380,000.00. Following the completion of the transaction, the chief financial officer directly owned 131,833 shares in the company, valued at approximately $92,283,100. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,985 shares of company stock worth $18,480,838 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise 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.