Geneva Capital Management LLC Has $50.34 Million Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Geneva Capital Management LLC reduced its stake in Axon Enterprise, Inc by 3.9%, now holding 95,716 shares valued at approximately $50.3 million, following the sale of 3,873 shares during the first quarter.
• A total of 79.08% of Axon’s stock is owned by institutional investors, indicating a strong institutional backing in the company.
• Axon recently reported earnings of $1.41 per share, which surpassed analysts' expectations, with revenue increasing by 31.3% year-over-year to $603.63 million.

Geneva Capital Management LLC reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,716 shares of the biotechnology company's stock after selling 3,873 shares during the quarter. Geneva Capital Management LLC owned 0.12% of Axon Enterprise worth $50,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pinion Investment Advisors LLC raised its stake in Axon Enterprise by 3.0% during the first quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock valued at $341,000 after buying an additional 19 shares in the last quarter. Kentucky Retirement Systems boosted its position in shares of Axon Enterprise by 0.4% in the first quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after buying an additional 19 shares during the period. WCM Investment Management LLC raised its holdings in shares of Axon Enterprise by 0.8% during the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock worth $1,306,000 after acquiring an additional 19 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Axon Enterprise by 0.5% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,561 shares of the biotechnology company's stock valued at $1,873,000 after acquiring an additional 19 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in shares of Axon Enterprise by 4.6% in the first quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company's stock worth $237,000 after purchasing an additional 20 shares during the period. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 4,829 shares of the company's stock, valued at approximately $3,567,858.36. This trade represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joshua Isner sold 9,905 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the transaction, the president directly owned 298,809 shares in the company, valued at $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,642 shares of company stock valued at $25,090,528. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Stock Down 3.3%

NASDAQ AXON traded down $28.47 on Friday, reaching $842.50. The company had a trading volume of 664,261 shares, compared to its average volume of 708,595. The firm has a market capitalization of $66.14 billion, a price-to-earnings ratio of 208.02, a price-to-earnings-growth ratio of 19.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.62 and a current ratio of 2.95. Axon Enterprise, Inc has a 1-year low of $346.71 and a 1-year high of $885.91. The company's fifty day moving average is $772.30 and its 200-day moving average is $663.05.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Needham & Company LLC set a $870.00 price objective on Axon Enterprise and gave the stock a "buy" rating in a research note on Tuesday. Barclays lifted their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. UBS Group reissued a "neutral" rating and set a $840.00 target price (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday. Northland Securities set a $800.00 target price on Axon Enterprise in a report on Tuesday. Finally, Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $837.69.

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.