Nisa Investment Advisors LLC Trims Stake in Axon Enterprise, Inc $AXON

Key Points

• Nisa Investment Advisors trimmed its stake in Axon by 40.9% in Q4, selling 5,308 shares and ending the period with 7,678 shares valued at about $4.36 million.
• Company insiders sold a total of 23,855 shares worth roughly $13.3 million in the last quarter, including CAO Jennifer H. Mak (1,500 shares), leaving insiders with 4.40% ownership.
• Axon recently beat quarterly estimates (EPS $2.15 vs. $1.60; revenue $796.7M, up 38.5% YoY), yet analysts are mixed — the stock has an average rating of "Moderate Buy" and an average price target of $762.93 while trading near $412.81.

Nisa Investment Advisors LLC lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,678 shares of the biotechnology company's stock after selling 5,308 shares during the quarter. Nisa Investment Advisors LLC's holdings in Axon Enterprise were worth $4,361,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its position in shares of Axon Enterprise by 2.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company's stock valued at $421,000 after acquiring an additional 14 shares in the last quarter. Vicus Capital increased its position in Axon Enterprise by 3.7% during the 3rd quarter. Vicus Capital now owns 396 shares of the biotechnology company's stock worth $284,000 after purchasing an additional 14 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after purchasing an additional 15 shares during the last quarter. Blue Trust Inc. raised its stake in Axon Enterprise by 2.5% in the 3rd quarter. Blue Trust Inc. now owns 645 shares of the biotechnology company's stock valued at $463,000 after purchasing an additional 16 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in Axon Enterprise by 5.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 313 shares of the biotechnology company's stock valued at $223,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the transaction, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeri Williams sold 157 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $490.00, for a total transaction of $76,930.00. Following the sale, the director directly owned 1,159 shares of the company's stock, valued at $567,910. This represents a 11.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,855 shares of company stock valued at $13,299,928 in the last quarter. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC reduced their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. Northcoast Research raised shares of Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price objective on the stock in a research note on Tuesday, January 6th. William Blair restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Axon Enterprise in a research note on Friday, March 27th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $762.93.

Axon Enterprise Stock Down 2.5%

Shares of NASDAQ:AXON opened at $412.81 on Friday. The stock's 50-day moving average price is $486.09 and its two-hundred day moving average price is $582.75. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91. The firm has a market cap of $33.19 billion, a price-to-earnings ratio of 271.59, a PEG ratio of 9.04 and a beta of 1.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. The company had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The company's quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. On average, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

About Axon Enterprise

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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