BIT Capital GmbH Cuts Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• BIT Capital GmbH reduced its stake in Axon Enterprise by 58.8%, owning 1,836 shares worth approximately $966,000 after selling 2,625 shares in the first quarter.
• A significant increase in Axon Enterprise holdings has been seen by hedge funds, with 79.08% of the stock now owned by institutional investors following multiple new purchases and increases in existing positions.
• In the most recent earnings report, Axon Enterprise surpassed expectations with $1.41 EPS compared to estimates of $1.34, while its revenue of $603.63 million also exceeded forecasts.

BIT Capital GmbH cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 58.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,836 shares of the biotechnology company's stock after selling 2,625 shares during the quarter. BIT Capital GmbH's holdings in Axon Enterprise were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. TCTC Holdings LLC boosted its position in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in Axon Enterprise during the 4th quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC boosted its position in Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Axon Enterprise during the 1st quarter valued at approximately $32,000. Finally, Alpine Bank Wealth Management bought a new stake in Axon Enterprise during the 1st quarter valued at approximately $40,000. 79.08% of the stock is owned by institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of Axon Enterprise stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the completion of the transaction, the director owned 4,829 shares of the company's stock, valued at approximately $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Cameron Brooks sold 3,000 shares of Axon Enterprise stock in a transaction on Friday, May 30th. The shares were sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the transaction, the executive directly owned 19,447 shares of the company's stock, valued at $14,405,559.72. The trade was a 13.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock valued at $25,090,528 over the last ninety days. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Stock Up 14.5%

AXON traded up $107.88 during trading on Tuesday, hitting $852.76. The stock had a trading volume of 1,067,178 shares, compared to its average volume of 698,132. The company has a market capitalization of $66.39 billion, a PE ratio of 205.98, a PEG ratio of 82.76 and a beta of 1.36. Axon Enterprise, Inc has a twelve month low of $286.19 and a twelve month high of $885.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. The stock has a 50 day simple moving average of $764.81 and a two-hundred day simple moving average of $658.28.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. On average, research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Analyst Ratings Changes

AXON has been the subject of several recent research reports. Bank of America lifted their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Wolfe Research began coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $806.67.

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.