Natixis Advisors LLC Decreases Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Natixis Advisors LLC reduced its position in Axon Enterprise, Inc by 33.7% during the first quarter, resulting in holdings worth approximately $10.90 million.
• Several large investors have recently increased their stakes in Axon, with institutional investors now owning 79.08% of the company's stock.
• Analyst ratings for Axon Enterprise are mostly positive, with an average target price of $772.08 and an overall rating of "Moderate Buy."

Natixis Advisors LLC cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 33.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,728 shares of the biotechnology company's stock after selling 10,523 shares during the quarter. Natixis Advisors LLC's holdings in Axon Enterprise were worth $10,902,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise in the fourth quarter worth about $30,000. TCTC Holdings LLC raised its holdings in Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its holdings in Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise in the first quarter worth about $32,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Axon Enterprise during the first quarter valued at about $40,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

NASDAQ:AXON traded down $24.00 during midday trading on Friday, hitting $846.97. The company's stock had a trading volume of 446,725 shares, compared to its average volume of 708,199. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91. The firm's 50 day moving average is $772.30 and its 200-day moving average is $663.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.62. The firm has a market cap of $66.49 billion, a P/E ratio of 209.13, a P/E/G ratio of 19.36 and a beta of 1.36.

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

Insiders Place Their Bets

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $738.84, for a total value of $960,492.00. Following the sale, the director owned 4,829 shares in the company, valued at approximately $3,567,858.36. This represents a 21.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was 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 in the company, valued at approximately $11,762,384.40. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,642 shares of company stock worth $25,090,528. Corporate insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXON. JMP Securities upped their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group upped their price objective 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. UBS Group restated a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday. Barclays upped their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Raymond James Financial restated an "outperform" rating and set a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.