Axon Enterprise, Inc (NASDAQ:AXON) Shares Sold by Natixis Advisors LLC

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 shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AXON. Capital World Investors increased its holdings in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after acquiring an additional 841,772 shares during the last quarter. GAMMA Investing LLC increased its holdings in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 shares during the last quarter. Jennison Associates LLC boosted its stake in Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Two Sigma Advisers LP boosted its stake in Axon Enterprise by 230.2% in the 4th quarter. Two Sigma Advisers LP now owns 220,600 shares of the biotechnology company's stock worth $131,107,000 after purchasing an additional 153,800 shares during the period. Finally, Northern Trust Corp boosted its stake in Axon Enterprise by 19.8% in the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after purchasing an additional 118,469 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXON. Barclays lifted their price target on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. UBS Group raised their price objective on Axon Enterprise from $820.00 to $840.00 and gave the company a "neutral" rating in a report on Tuesday. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a report on Tuesday. Finally, Needham & Company LLC raised their price objective on Axon Enterprise from $820.00 to $870.00 and gave the company a "buy" rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus price target of $810.38.

Insiders Place Their Bets

In other news, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction that occurred 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 represents a 13.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Joshua Isner sold 905 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the transaction, the president owned 268,735 shares in the company, valued at $208,643,166.65. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,642 shares of company stock worth $25,090,528. 5.70% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

AXON traded up $122.24 during midday trading on Tuesday, reaching $867.12. The company had a trading volume of 2,532,998 shares, compared to its average volume of 631,794. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $767.23 and a two-hundred day moving average of $659.73. The company has a market cap of $67.51 billion, a P/E ratio of 214.10, a P/E/G ratio of 83.03 and a beta of 1.36. Axon Enterprise, Inc has a 1 year low of $286.19 and a 1 year high of $885.92.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data 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 return on equity of 7.10% and a net margin of 13.64%. The firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. The business's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share 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.