Stephens Investment Management Group LLC Trims Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Stephens Investment Management Group LLC lowered its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 169,493 shares of the biotechnology company's stock after selling 18,623 shares during the period. Axon Enterprise comprises approximately 1.3% of Stephens Investment Management Group LLC's holdings, making the stock its 24th largest position. Stephens Investment Management Group LLC owned 0.22% of Axon Enterprise worth $89,145,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise in the 4th quarter worth $30,000. Bartlett & CO. Wealth Management LLC boosted its holdings in Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares during the period. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise in the 1st quarter worth $32,000. Alpine Bank Wealth Management bought a new position in Axon Enterprise in the 1st quarter worth $40,000. Finally, Elequin Capital LP bought a new position in Axon Enterprise in the 4th quarter worth $46,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded down $3.37 during mid-day trading on Friday, hitting $729.62. 1,120,957 shares of the company's stock traded hands, compared to its average volume of 545,551. The company's 50-day moving average is $752.67 and its two-hundred day moving average is $641.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The company has a market capitalization of $56.80 billion, a P/E ratio of 176.24, a PEG ratio of 83.99 and a beta of 1.29. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results 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. The firm had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The business's revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS. On average, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the sale, the director directly owned 17,740 shares of the company's stock, valued at $13,482,400. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $738.84, for a total transaction of $960,492.00. Following the completion of the sale, the director directly owned 4,829 shares in the company, valued at $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. In the last three months, insiders sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wolfe Research initiated coverage on shares of Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Needham & Company LLC increased their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group increased their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $699.55.

About Axon Enterprise

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.