Motley Fool Wealth Management LLC Sells 9,793 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Motley Fool Wealth Management LLC reduced its holdings in Axon Enterprise, Inc by 20.5%, now owning 37,993 shares valued at approximately $19.98 million.
• A number of institutional investors have increased their stakes in Axon, with 79.08% of the stock owned by such investors.
• Analysts have a consensus rating of "Moderate Buy" on Axon Enterprise, with a target price averaging $837.69.

Motley Fool Wealth Management LLC lowered its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,993 shares of the biotechnology company's stock after selling 9,793 shares during the quarter. Axon Enterprise accounts for 1.2% of Motley Fool Wealth Management LLC's investment portfolio, making the stock its 21st biggest position. Motley Fool Wealth Management LLC's holdings in Axon Enterprise were worth $19,983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXON. LaSalle St. Investment Advisors LLC grew its holdings in shares of Axon Enterprise by 2.1% during the first 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 last quarter. Pinion Investment Advisors LLC grew its holdings in shares of Axon Enterprise by 3.0% during the first quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock valued at $341,000 after purchasing an additional 19 shares during the last quarter. Kentucky Retirement Systems grew its holdings in shares of Axon Enterprise by 0.4% during the first quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock valued at $2,605,000 after purchasing an additional 19 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Axon Enterprise by 0.8% during the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock worth $1,306,000 after buying an additional 19 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its position in shares of Axon Enterprise by 0.5% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,561 shares of the biotechnology company's stock worth $1,873,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Down 0.4%

Shares of NASDAQ AXON traded down $3.05 during mid-day trading on Wednesday, reaching $765.52. The company had a trading volume of 1,128,938 shares, compared to its average volume of 744,388. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The stock has a market capitalization of $60.09 billion, a PE ratio of 189.02, a price-to-earnings-growth ratio of 28.21 and a beta of 1.36. The stock's 50 day moving average is $775.38 and its 200-day moving average is $668.28.

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, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period in the prior year, the business posted $1.20 earnings per share. Axon Enterprise's revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share 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 on Monday, August 11th. The shares were 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Cameron Brooks sold 3,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive owned 19,447 shares of the company's stock, valued at $14,405,559.72. This represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,185 shares of company stock valued at $24,126,378 in the last three months. 4.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Craig Hallum upgraded Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a research report on Tuesday, August 5th. Needham & Company LLC set a $870.00 price objective on Axon Enterprise and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wolfe Research initiated coverage on Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating for the company. Finally, Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $837.69.

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.