Comerica Bank Has $5.50 Million Holdings in Axon Enterprise, Inc $AXON

Key Points

• Comerica Bank cut its stake in Axon by 87.5% in Q4, selling 67,750 shares and leaving it with 9,676 shares valued at $5.495 million.
• Insiders sold 13,855 shares worth about $7.11 million last quarter, including CEO Patrick W. Smith (10,000 shares for ~$5.00M) and Isaiah Fields (2,000 shares for ~$1.07M), leaving insiders with 4.40% ownership.
• Analysts remain broadly positive with a consensus "Moderate Buy" and $749.63 target (16 Buys, 2 Holds, 1 Sell), and Axon recently beat EPS and revenue estimates with revenue up 38.5% year‑over‑year.

Comerica Bank cut its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 87.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,676 shares of the biotechnology company's stock after selling 67,750 shares during the period. Comerica Bank's holdings in Axon Enterprise were worth $5,495,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth $29,000. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth $29,000. Sound Income Strategies LLC grew its stake in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $30,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Axon Enterprise during the third quarter worth $34,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axon Enterprise

In other news, insider Isaiah Fields sold 2,000 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total value of $1,070,020.00. Following the sale, the insider directly owned 55,588 shares in the company, valued at $29,740,135.88. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total value of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares in the company, valued at approximately $1,546,240,339.28. This trade represents a 0.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,855 shares of company stock valued at $7,109,828. Insiders own 4.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on AXON. Weiss Ratings cut Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 10th. Northcoast Research raised Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price objective for the company in a research note on Tuesday, January 6th. JPMorgan Chase & Co. decreased their target price on Axon Enterprise from $925.00 to $750.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Axon Enterprise in a research note on Wednesday, April 8th. Sixteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $749.63.

Axon Enterprise Stock Up 0.1%

NASDAQ:AXON opened at $402.31 on Friday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of 264.68, a PEG ratio of 8.57 and a beta of 1.44. The stock has a 50-day moving average price of $454.05 and a two-hundred day moving average price of $535.39.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The firm had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. During the same period in the previous year, the firm earned $2.08 earnings per share. The company's revenue was up 38.5% on a year-over-year basis. As a group, equities analysts expect that Axon Enterprise, Inc will post 1.41 earnings per share for the current year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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