Dorsey Wright & Associates Reduces Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Dorsey Wright & Associates lessened its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,753 shares of the biotechnology company's stock after selling 4,288 shares during the period. Axon Enterprise makes up 1.3% of Dorsey Wright & Associates' holdings, making the stock its 19th biggest position. Dorsey Wright & Associates' holdings in Axon Enterprise were worth $5,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $480,000. Teacher Retirement System of Texas purchased a new stake in Axon Enterprise in the 4th quarter worth approximately $399,000. LPL Financial LLC grew its stake in shares of Axon Enterprise by 13.5% during the 4th quarter. LPL Financial LLC now owns 101,431 shares of the biotechnology company's stock worth $60,282,000 after purchasing an additional 12,052 shares during the period. Corebridge Financial Inc. increased its holdings in shares of Axon Enterprise by 26.1% during the 4th quarter. Corebridge Financial Inc. now owns 24,139 shares of the biotechnology company's stock valued at $14,346,000 after purchasing an additional 5,002 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $59,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXON. Wolfe Research started coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Needham & Company LLC lifted their price target on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $772.08.

Insider Buying and Selling

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the completion of the sale, the director owned 4,829 shares of the company's stock, valued at $3,567,858.36. This represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Cameron Brooks sold 3,000 shares of the 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 completion of the sale, the executive owned 19,447 shares of the company's stock, valued at $14,405,559.72. This trade represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,642 shares of company stock worth $25,090,528 in the last ninety days. Company insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

AXON stock traded up $4.04 during trading on Thursday, hitting $709.26. The stock had a trading volume of 1,104,884 shares, compared to its average volume of 596,283. Axon Enterprise, Inc has a twelve month low of $279.02 and a twelve month high of $830.21. The company's 50-day moving average price is $764.16 and its two-hundred day moving average price is $648.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The stock has a market capitalization of $55.22 billion, a P/E ratio of 171.32, a PEG ratio of 78.61 and a beta of 1.29.

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

Axon Enterprise Company 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.