Farther Finance Advisors LLC Decreases Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Farther Finance Advisors LLC reduced its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 66.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 483 shares of the biotechnology company's stock after selling 973 shares during the period. Farther Finance Advisors LLC's holdings in Axon Enterprise were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Capital World Investors boosted its position in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares during the last quarter. Alliancebernstein L.P. boosted its position in Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after buying an additional 812,337 shares during the last quarter. Norges Bank purchased a new position in Axon Enterprise in the 4th quarter valued at about $482,081,000. GQG Partners LLC bought a new position in shares of Axon Enterprise during the fourth quarter worth about $478,349,000. Finally, GAMMA Investing LLC lifted its position in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Bank of America increased their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays increased their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $699.55.

Insider Buying and Selling at Axon Enterprise

In related news, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the transaction, the chief financial officer now owns 131,833 shares in the company, valued at $92,283,100. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the transaction, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is owned by company insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $770.79 on Thursday. The firm's 50 day moving average is $683.57 and its two-hundred day moving average is $624.47. Axon Enterprise, Inc has a 52 week low of $279.02 and a 52 week high of $806.64. The firm has a market capitalization of $60.01 billion, a P/E ratio of 186.18, a PEG ratio of 89.50 and a beta of 1.29. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same quarter last year, the business earned $1.15 earnings per share. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. Analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current 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.

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