HighTower Advisors LLC Sells 21,246 Shares of Axon Enterprise, Inc $AXON

Key Points

• HighTower Advisors LLC cut its Axon Enterprise stake by 46.6% in the fourth quarter, selling 21,246 shares and leaving it with 24,355 shares valued at about $13.8 million.
• Several other large institutions also adjusted their positions, and 79.08% of Axon stock is now held by institutional investors, indicating heavy Wall Street ownership.
• Axon reported strong quarterly results, with EPS of $1.61 and revenue of $807.35 million, both ahead of estimates, while analysts currently hold a Moderate Buy consensus with a $712.75 target price.

HighTower Advisors LLC decreased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,355 shares of the biotechnology company's stock after selling 21,246 shares during the quarter. HighTower Advisors LLC's holdings in Axon Enterprise were worth $13,832,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AXON. Vanguard Group Inc. grew its holdings in shares of Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Axon Enterprise by 23.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock valued at $476,089,000 after purchasing an additional 156,647 shares during the last quarter. Northern Trust Corp boosted its position in Axon Enterprise by 1.6% in the third quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company's stock valued at $533,871,000 after buying an additional 11,726 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Axon Enterprise by 3.1% in the third quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company's stock valued at $302,208,000 after buying an additional 12,736 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares of the company's stock, valued at approximately $1,546,240,339.28. The trade was a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the company's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the sale, the insider owned 55,588 shares of the company's stock, valued at $29,740,135.88. The trade was a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,855 shares of company stock worth $7,109,828. Insiders own 4.20% of the company's stock.

Axon Enterprise Price Performance

Shares of AXON opened at $386.00 on Monday. The business's fifty day moving average price is $416.52 and its two-hundred day moving average price is $501.55. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 155.02, a PEG ratio of 7.02 and a beta of 1.44. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. On average, analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXON has been the subject of several recent analyst reports. Craig Hallum reaffirmed a "buy" rating and set a $820.00 price objective on shares of Axon Enterprise in a report on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a research report on Thursday, May 7th. Zacks Research raised Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. UBS Group cut their price objective on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $712.75.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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