Axon Enterprise, Inc (NASDAQ:AXON) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ has reduced its stake in Axon Enterprise, Inc by 4.1%, selling 684 shares, leaving them with 15,931 shares valued at approximately $8.38 million.
• Insider selling is notable, with President Joshua Isner selling 905 shares for about $702,632 and CRO Cameron Brooks selling 3,000 shares for approximately $2.22 million.
• Analysts are optimistic about Axon Enterprise, with multiple firms raising their price targets and a consensus rating of "Moderate Buy."

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,931 shares of the biotechnology company's stock after selling 684 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Axon Enterprise were worth $8,381,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth about $30,000. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Axon Enterprise during the 1st quarter worth about $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Axon Enterprise during the 1st quarter worth about $40,000. Finally, Elequin Capital LP acquired a new stake in shares of Axon Enterprise during the 4th quarter worth about $46,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer owned 15,240 shares of the company's stock, valued at $11,762,384.40. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joshua Isner sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the sale, the president directly owned 268,735 shares of the company's stock, valued at $208,643,166.65. The trade was a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,642 shares of company stock valued at $25,090,528 over the last three months. Company insiders own 5.70% of the company's stock.

Axon Enterprise Stock Up 3.6%

NASDAQ:AXON traded up $25.75 during trading hours on Friday, hitting $735.01. The stock had a trading volume of 654,601 shares, compared to its average volume of 612,954. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $830.21. The business has a 50 day simple moving average of $763.82 and a two-hundred day simple moving average of $651.44. The company has a market cap of $57.22 billion, a PE ratio of 177.54, a price-to-earnings-growth ratio of 81.93 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter last year, the company earned $1.15 earnings per share. Axon Enterprise's revenue for the quarter was up 31.3% on a year-over-year basis. Analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analysts Set New Price Targets

AXON has been the topic of several recent analyst reports. Needham & Company LLC increased their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. JMP Securities increased their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wolfe Research assumed coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Finally, Bank of America raised their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. 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 presently has an average rating of "Moderate Buy" and a consensus target price 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.