Motley Fool Asset Management LLC Sells 6,541 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Motley Fool Asset Management LLC reduced its stake in Axon Enterprise, selling 6,541 shares and now holding a total of 41,831 shares, which constitutes 1.2% of its portfolio.
• Axon Enterprise's quarterly earnings report showed earnings of $2.12 per share, exceeding analysts' estimates, with revenues of $668.54 million, marking a 32.6% increase year-over-year.
• Multiple investment analysts have recently upgraded their ratings on Axon Enterprise, with price targets ranging from $830.00 to $900.00, indicating a generally positive outlook for the stock.

Motley Fool Asset Management LLC lessened its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 13.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,831 shares of the biotechnology company's stock after selling 6,541 shares during the period. Axon Enterprise makes up 1.2% of Motley Fool Asset Management LLC's investment portfolio, making the stock its 19th largest holding. Motley Fool Asset Management LLC owned 0.05% of Axon Enterprise worth $22,001,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Independent Advisor Alliance lifted its stake in shares of Axon Enterprise by 8.8% in the first quarter. Independent Advisor Alliance now owns 3,272 shares of the biotechnology company's stock valued at $1,721,000 after purchasing an additional 266 shares during the period. SouthState Corp lifted its stake in shares of Axon Enterprise by 40.7% in the first quarter. SouthState Corp now owns 422 shares of the biotechnology company's stock valued at $222,000 after purchasing an additional 122 shares during the period. Nuveen LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at about $264,796,000. Aigen Investment Management LP lifted its stake in shares of Axon Enterprise by 42.7% in the first quarter. Aigen Investment Management LP now owns 1,961 shares of the biotechnology company's stock valued at $1,031,000 after purchasing an additional 587 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at about $513,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the transaction, the director owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the sale, the executive directly owned 19,447 shares in the company, valued at approximately $14,405,559.72. This trade represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,185 shares of company stock worth $24,126,378. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Bank of America raised their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Wolfe Research began coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays lifted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Trading Down 0.4%

AXON stock traded down $3.05 during midday trading on Wednesday, reaching $765.52. The stock had a trading volume of 1,128,938 shares, compared to its average volume of 744,388. The business has a fifty day simple moving average of $775.38 and a two-hundred day simple moving average of $668.28. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The firm has a market cap of $60.09 billion, a price-to-earnings ratio of 189.02, a PEG ratio of 28.21 and a beta of 1.36. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91.

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

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.