Raiffeisen Bank International AG Sells 1,120 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Raiffeisen Bank International AG reduced its stake in Axon Enterprise, Inc by 35.3%, selling 1,120 shares and holding 2,052 shares valued at approximately $1,098,000.
• A number of hedge funds have increased their investments in Axon, with significant purchases including Arrowstreet Capital's 697.1% boost to its position, now holding 7,357 shares valued at about $4.37 million.
• Axon Enterprise reported a 32.6% increase in year-over-year revenue, reaching $668.54 million, and significantly beat analysts' earnings estimates with an EPS of $2.12 compared to the expected $1.54.

Raiffeisen Bank International AG trimmed its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,052 shares of the biotechnology company's stock after selling 1,120 shares during the quarter. Raiffeisen Bank International AG's holdings in Axon Enterprise were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AXON. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Axon Enterprise by 697.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,357 shares of the biotechnology company's stock valued at $4,372,000 after acquiring an additional 6,434 shares during the period. World Investment Advisors bought a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $454,000. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 6.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 85,167 shares of the biotechnology company's stock valued at $50,616,000 after acquiring an additional 5,474 shares during the period. Finally, Wedbush Securities Inc. boosted its position in shares of Axon Enterprise by 5.2% in the fourth quarter. Wedbush Securities Inc. now owns 2,284 shares of the biotechnology company's stock valued at $1,357,000 after acquiring an additional 112 shares during the period. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Up 0.3%

AXON stock opened at $744.88 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $57.99 billion, a PE ratio of 179.92, a PEG ratio of 82.76 and a beta of 1.36. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $830.21. The business's 50 day simple moving average is $764.81 and its 200 day simple moving average is $658.28.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. During the same period in the prior year, the firm posted $1.20 EPS. The company's revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Transactions at Axon Enterprise

In other news, 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 transaction of $2,222,280.00. Following the sale, the executive directly owned 19,447 shares of the company's stock, valued at approximately $14,405,559.72. This represents a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the stock in a transaction 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 directly owned 4,829 shares in the company, valued at approximately $3,567,858.36. This trade represents a 21.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,642 shares of company stock worth $25,090,528. 5.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Bank of America raised their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. 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. Wolfe Research initiated coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Finally, UBS Group initiated coverage on Axon Enterprise in a research report on Wednesday, July 16th. They issued a "neutral" rating and a $820.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus price target of $772.08.

Axon Enterprise Company 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.

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