Axon Enterprise, Inc (NASDAQ:AXON) Stake Cut by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 44.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,246 shares of the biotechnology company's stock after selling 1,000 shares during the period. QRG Capital Management Inc.'s holdings in Axon Enterprise were worth $656,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CX Institutional acquired a new position in Axon Enterprise in the 1st quarter worth about $115,000. Xponance Inc. increased its position in Axon Enterprise by 3.5% in the 4th quarter. Xponance Inc. now owns 16,469 shares of the biotechnology company's stock worth $9,788,000 after purchasing an additional 560 shares during the last quarter. Brighton Jones LLC acquired a new position in Axon Enterprise in the 4th quarter worth about $480,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Axon Enterprise by 16.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,200 shares of the biotechnology company's stock worth $7,251,000 after purchasing an additional 1,700 shares during the last quarter. Finally, NorthRock Partners LLC acquired a new position in Axon Enterprise in the 4th quarter worth about $555,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 0.8%

AXON opened at $777.32 on Friday. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $806.64. 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 capitalization of $60.51 billion, a price-to-earnings ratio of 187.76, a P/E/G ratio of 89.48 and a beta of 1.29. The business has a 50 day moving average of $692.15 and a 200-day moving average of $625.71.

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

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the transaction, the chief executive officer now directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Joshua Isner sold 905 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the transaction, the president now owns 268,735 shares of the company's stock, valued at $208,643,166.65. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXON has been the subject of several recent analyst reports. Craig Hallum downgraded Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. The Goldman Sachs Group upped their target price on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays upped their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America upped their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Needham & Company LLC upped their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus price target of $699.55.

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.

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