Penserra Capital Management LLC Sells 3,613 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Penserra Capital Management LLC cut its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 45.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,280 shares of the biotechnology company's stock after selling 3,613 shares during the quarter. Penserra Capital Management LLC's holdings in Axon Enterprise were worth $2,250,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AXON. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Axon Enterprise during the 1st quarter valued at about $1,110,000. CX Institutional bought a new position in shares of Axon Enterprise in the first quarter valued at $115,000. GAMMA Investing LLC lifted its holdings in shares of Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after purchasing an additional 154 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Axon Enterprise by 5.1% in the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after buying an additional 46 shares during the period. Finally, Blue Trust Inc. grew its position in Axon Enterprise by 33.1% during the 1st quarter. Blue Trust Inc. now owns 169 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 42 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AXON. Wolfe Research assumed coverage on shares of Axon Enterprise in a research report on Monday. They issued an "outperform" rating for the company. Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Bank of America increased their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC raised their price target on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $699.55.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded up $15.64 on Wednesday, hitting $805.86. The company had a trading volume of 339,757 shares, compared to its average volume of 509,076. The stock has a 50 day moving average price of $748.40 and a 200 day moving average price of $639.52. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The stock has a market cap of $62.74 billion, a price-to-earnings ratio of 194.65, a P/E/G ratio of 90.96 and a beta of 1.29. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $830.21.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter last year, the firm earned $1.15 earnings per share. The company's revenue was up 31.3% on a year-over-year basis. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Buying and Selling

In related news, CRO Cameron Brooks sold 3,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the sale, the executive directly owned 19,447 shares of the company's stock, valued at $14,405,559.72. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brittany Bagley sold 3,400 shares of the firm'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 transaction of $2,380,000.00. Following the completion of the sale, the chief financial officer 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 have sold 44,642 shares of company stock valued at $30,500,428 in the last ninety days. Insiders own 4.40% of the company's stock.

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.