Robertson Stephens Wealth Management LLC Invests $11.26 Million in Axon Enterprise, Inc $AXON

Key Points

• Robertson Stephens Wealth Management opened a new position in Axon, buying 19,832 shares in Q4 valued at about $11.26 million.
• Axon beat Q4 expectations, reporting $2.15 EPS vs. $1.60 estimated and revenue of $796.72 million, up 38.5% year-over-year.
• Insiders have been selling recently — CEO Patrick W. Smith sold 10,000 shares for roughly $5.0 million, and insiders sold 13,855 shares (~$7.11 million) over the past three months.

Robertson Stephens Wealth Management LLC purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,832 shares of the biotechnology company's stock, valued at approximately $11,263,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXON. NEOS Investment Management LLC grew its position in shares of Axon Enterprise by 82.7% during the third quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company's stock worth $18,206,000 after buying an additional 11,482 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Axon Enterprise by 4.2% during the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock worth $6,684,217,000 after buying an additional 376,904 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Axon Enterprise by 3.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company's stock worth $132,349,000 after buying an additional 5,953 shares in the last quarter. Legal & General Group Plc grew its position in shares of Axon Enterprise by 3.1% during the third quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company's stock worth $302,208,000 after buying an additional 12,736 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Axon Enterprise by 93.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company's stock worth $13,270,000 after buying an additional 11,262 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares in the company, valued at $1,546,240,339.28. This represents a 0.32% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total value of $76,930.00. Following the sale, the director owned 1,159 shares of the company's stock, valued at $567,910. This trade represents a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,855 shares of company stock valued at $7,109,828. Corporate insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

AXON stock opened at $402.31 on Friday. The company has a market capitalization of $32.41 billion, a P/E ratio of 264.68, a PEG ratio of 8.57 and a beta of 1.61. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The business has a 50 day simple moving average of $454.05 and a 200-day simple moving average of $535.39. 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 (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business had revenue of $796.72 million during the quarter, compared to analysts' expectations of $755.29 million. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 1.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AXON. Needham & Company LLC lowered their price objective on Axon Enterprise from $870.00 to $600.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Citizens Jmp reissued a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a research report on Monday, April 13th. Robert W. Baird set a $800.00 price objective on Axon Enterprise in a research report on Wednesday, February 25th. The Goldman Sachs Group lowered their price objective on Axon Enterprise from $720.00 to $625.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Finally, Barclays lowered their price objective on Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $749.63.

Axon Enterprise Profile

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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