Cookson Peirce & Co. Inc. Sells 778 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Cookson Peirce & Co. Inc. has reduced its stake in Axon Enterprise by 1.6%, selling 778 shares, and now holds approximately 47,476 shares valued at about $24.97 million.
• Multiple institutional investors significantly increased their holdings in Axon, with Capital World Investors boosting its stake by 86.4%, now owning over $1 billion in shares.
• Analysts are optimistic about Axon Enterprise, with several increasing their target prices; for instance, Bank of America raised its target from $895 to $1,000 and maintained a "buy" rating.

Cookson Peirce & Co. Inc. lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,476 shares of the biotechnology company's stock after selling 778 shares during the period. Axon Enterprise accounts for approximately 1.3% of Cookson Peirce & Co. Inc.'s holdings, making the stock its 28th biggest holding. Cookson Peirce & Co. Inc. owned 0.06% of Axon Enterprise worth $24,970,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AXON. Capital World Investors boosted its holdings in Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after acquiring an additional 841,772 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Axon Enterprise by 58,725.5% during the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock valued at $402,210,000 after buying an additional 763,431 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Axon Enterprise by 23,203.7% during the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after buying an additional 611,418 shares in the last quarter. Nuveen LLC bought a new stake in shares of Axon Enterprise during the 1st quarter valued at $264,796,000. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Axon Enterprise by 29.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after buying an additional 212,931 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Insiders Place Their Bets

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the business's stock in a transaction dated Monday, May 19th. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Cameron Brooks sold 3,000 shares of the company's stock in a transaction dated 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 sale, 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 have sold 31,185 shares of company stock worth $24,126,378 in the last quarter. Insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. 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. Barclays boosted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, UBS Group restated a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $765.52 on Thursday. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91. The business has a 50-day simple moving average of $775.38 and a two-hundred day simple moving average of $668.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The firm has a market cap of $60.09 billion, a price-to-earnings ratio of 189.02, a price-to-earnings-growth ratio of 28.21 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The business had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the previous year, the firm earned $1.20 EPS. Axon Enterprise's revenue was up 32.6% on a year-over-year basis. On average, analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

About Axon Enterprise

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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