Jag Capital Management LLC Has $243,000 Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Jag Capital Management slashed its Axon Enterprise stake by 96% in the first quarter, selling 13,709 shares and leaving it with 572 shares worth about $243,000.
• Several analysts remain positive on AXON despite some target cuts, with the stock carrying a Moderate Buy consensus and an average price target of $725.25.
• Axon recently beat earnings estimates, reporting $1.61 EPS on $807.35 million in revenue, while insiders including the CEO sold shares in recent months.

Jag Capital Management LLC lowered its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 96.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 572 shares of the biotechnology company's stock after selling 13,709 shares during the period. Jag Capital Management LLC's holdings in Axon Enterprise were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AXON. Brighton Jones LLC acquired a new position in Axon Enterprise during the 4th quarter worth about $480,000. NewEdge Advisors LLC raised its position in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock worth $1,207,000 after acquiring an additional 668 shares during the last quarter. Empowered Funds LLC raised its position in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after acquiring an additional 157 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of Axon Enterprise in the second quarter worth approximately $284,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. TD Cowen reduced their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and an average price target of $725.25.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 52,813 shares of the company's stock, valued at approximately $21,125,200. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,989 shares of company stock worth $30,527,983 in the last quarter. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $541.75 on Friday. The company has a market cap of $43.67 billion, a price-to-earnings ratio of 217.57, a price-to-earnings-growth ratio of 11.04 and a beta of 1.38. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $469.54 and a 200-day moving average of $481.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. On average, equities analysts forecast that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise Company 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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