Harvest Fund Management Co. Ltd Sells 2,915 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in Axon Enterprise, Inc by 35.7% during the first quarter, selling 2,915 shares to hold 5,245 shares valued at approximately $2.76 million.
• Institutional investors now own 79.08% of Axon Enterprise, with notable increases in positions from firms like Capital World Investors and GAMMA Investing LLC.
• Analysts have recently updated their price targets for Axon, with Bank of America raising its target from $750 to $895 and a consensus price target set at $772.08.

Harvest Fund Management Co. Ltd lowered its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 35.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,245 shares of the biotechnology company's stock after selling 2,915 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Axon Enterprise were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock worth $1,095,542,000 after acquiring an additional 65,097 shares during the period. Capital World Investors raised its holdings 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 worth $1,079,145,000 after acquiring an additional 841,772 shares during the period. GAMMA Investing LLC raised its holdings in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 shares during the period. Northern Trust Corp raised its holdings in Axon Enterprise by 19.8% in the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after acquiring an additional 118,469 shares during the period. Finally, Jennison Associates LLC raised its holdings in Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after acquiring an additional 611,418 shares during the period. Institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the sale, the chief accounting officer owned 15,240 shares of the company's stock, valued at approximately $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 905 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $776.39, for a total transaction of $702,632.95. Following the completion of the sale, the president directly owned 268,735 shares of the company's stock, valued at $208,643,166.65. The trade was a 0.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,642 shares of company stock valued at $25,090,528. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Trading Down 3.3%

NASDAQ AXON traded down $24.81 during trading hours on Friday, hitting $730.68. The company's stock had a trading volume of 75,464 shares, compared to its average volume of 693,343. The stock has a fifty day moving average of $764.32 and a 200 day moving average of $655.08. Axon Enterprise, Inc has a twelve month low of $279.02 and a twelve month high of $830.21. The firm has a market capitalization of $56.88 billion, a P/E ratio of 176.49, a PEG ratio of 83.44 and a beta of 1.29. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share 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 business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same period in the prior year, the business posted $1.15 earnings per share. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on AXON. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Bank of America lifted their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group assumed coverage on shares of Axon Enterprise in a research report on Wednesday, July 16th. They issued a "neutral" rating and a $820.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $772.08.

Axon Enterprise 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.