Gulf International Bank UK Ltd Sells 1,317 Shares of Axon Enterprise, Inc $AXON

Key Points

• Gulf International Bank UK Ltd reduced its stake in Axon Enterprise, Inc by 23.9%, selling 1,317 shares and bringing its total holdings to 4,182 shares, valued at approximately $2.2 million.
• Institutional investors hold 79.08% of Axon Enterprise's stock, with several firms increasing their positions significantly, including TCTC Holdings LLC, which raised its holdings by 75%.
• Axon Enterprise recently reported a $2.12 EPS for the quarter, surpassing analysts' expectations, and its revenue increased by 32.6% year-over-year.

Gulf International Bank UK Ltd decreased its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 23.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,182 shares of the biotechnology company's stock after selling 1,317 shares during the period. Gulf International Bank UK Ltd's holdings in Axon Enterprise were worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC raised its holdings in shares of Axon Enterprise by 2.1% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 777 shares of the biotechnology company's stock valued at $408,000 after purchasing an additional 16 shares during the period. Pinion Investment Advisors LLC grew its position in shares of Axon Enterprise by 3.0% during the 1st quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock worth $341,000 after purchasing an additional 19 shares in the last quarter. Kentucky Retirement Systems grew its position in shares of Axon Enterprise by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after purchasing an additional 19 shares in the last quarter. WCM Investment Management LLC increased its stake in Axon Enterprise by 0.8% in the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock valued at $1,306,000 after acquiring an additional 19 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted 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 in the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group reissued a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research note on Tuesday, August 5th. The Goldman Sachs Group upped their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wolfe Research began coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Finally, Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Stock Performance

NASDAQ:AXON traded up $37.38 during midday trading on Monday, reaching $791.62. 845,303 shares of the company traded hands, compared to its average volume of 710,957. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91. The company has a fifty day moving average price of $773.85 and a 200 day moving average price of $670.41. The firm has a market capitalization of $62.14 billion, a price-to-earnings ratio of 195.46, a price-to-earnings-growth ratio of 27.68 and a beta of 1.36.

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

Insider Transactions at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the sale, the chief executive officer owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey C. Kunins sold 7,891 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the sale, the insider owned 144,538 shares of the company's stock, valued at $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,695 shares of company stock worth $40,964,638. 5.70% of the stock is currently owned by company insiders.

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.