Compound Planning Inc. Sells 1,913 Shares of Axon Enterprise, Inc $AXON

Key Points

• Compound Planning reduced its Axon Enterprise position by 60.8% in the first quarter, selling 1,913 shares and retaining 1,235 shares worth approximately $524,000. Institutional investors collectively own 79.08% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $725.25. Recent targets ranged from $523 to $755.
• Axon reported quarterly revenue of $807.35 million, up 33.7% year over year, and EPS of $1.61, slightly exceeding estimates. Meanwhile, insiders sold 58,989 shares worth approximately $30.5 million over the past three months.

Compound Planning Inc. cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 60.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,235 shares of the biotechnology company's stock after selling 1,913 shares during the quarter. Compound Planning Inc.'s holdings in Axon Enterprise were worth $524,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise during the 4th quarter valued at $28,000. Sound Income Strategies LLC raised its position in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $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 4th quarter worth about $30,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth about $34,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Axon Enterprise during the 4th quarter worth about $35,000. Institutional investors own 79.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on AXON shares. Barclays decreased their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Finally, Needham & Company LLC increased their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average price target of $725.25.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer owned 3,060,997 shares of the company's stock, valued at $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $547.65 on Wednesday. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The firm's 50-day simple moving average is $488.89 and its 200 day simple moving average is $477.58. The firm has a market cap of $44.14 billion, a price-to-earnings ratio of 219.94, a P/E/G ratio of 10.72 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the previous year, the firm posted $1.47 EPS. The business's revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

About Axon Enterprise

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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