Russell Investments Group Ltd. cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,937 shares of the biotechnology company's stock after selling 13,824 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Axon Enterprise worth $30,530,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Axon Enterprise during the first quarter worth about $1,110,000. Quotient Wealth Partners LLC bought a new position in Axon Enterprise during the first quarter worth about $438,000. CX Institutional bought a new position in Axon Enterprise during the first quarter worth about $115,000. GAMMA Investing LLC lifted its holdings in shares of Axon Enterprise by 11.8% in the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after purchasing an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in shares of Axon Enterprise by 5.1% during the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after buying an additional 46 shares during the period. 79.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on AXON. Northland Securities set a $800.00 price objective on Axon Enterprise in a research report on Tuesday, August 5th. Bank of America upped their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group upped their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.
Read Our Latest Report on Axon Enterprise
Insider Buying and Selling at Axon Enterprise
In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer H. Mak sold 75 shares of Axon Enterprise stock in a transaction on Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the transaction, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,995 shares of company stock worth $41,925,130 in the last 90 days. Company insiders own 4.40% of the company's stock.
Axon Enterprise Price Performance
NASDAQ:AXON opened at $754.24 on Friday. The firm has a market capitalization of $59.21 billion, a price-to-earnings ratio of 186.23, a P/E/G ratio of 27.52 and a beta of 1.36. The stock's 50 day moving average price is $773.85 and its two-hundred day moving average price is $670.09. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 12-month low of $346.71 and a 12-month high of $885.91.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last released 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. The business had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The firm's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. On average, analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.
Axon Enterprise Profile
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Free Report)
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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