Vestor Capital LLC Sells 37,879 Shares of Axon Enterprise, Inc $AXON

Key Points

• Vestor Capital dramatically reduced its Axon Enterprise position by selling 37,879 shares, leaving it with just 144 shares valued at approximately $61,000 at the end of the first quarter.
• Institutional ownership remains high at 79.08%, with major investors including Vanguard, Geode Capital, Baillie Gifford, Sands Capital and Wellington increasing their stakes. Insiders, however, sold 58,989 shares worth about $30.5 million over the past three months.
• Axon reported quarterly revenue of $807.35 million, up 33.7% year over year, and earnings of $1.61 per share, slightly exceeding estimates. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $725.25.

Vestor Capital LLC lessened its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 99.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144 shares of the biotechnology company's stock after selling 37,879 shares during the quarter. Vestor Capital LLC's holdings in Axon Enterprise were worth $61,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AXON. Vanguard Group Inc. boosted its position in shares of Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock worth $1,265,657,000 after buying an additional 35,544 shares during the last quarter. Baillie Gifford & Co. increased its position in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Sands Capital Management LLC raised its stake in Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after buying an additional 167,095 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Axon Enterprise by 326.9% in the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after acquiring an additional 1,179,038 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total value of $6,437,900.00. Following the completion of the transaction, the chief executive officer owned 3,040,997 shares of the company's stock, valued at approximately $1,957,763,458.63. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the transaction, the director owned 3,632 shares in the company, valued at $1,739,619.04. This represents a 13.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,989 shares of company stock worth $30,527,983 in the last three months. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

Shares of AXON opened at $527.76 on Friday. The business's fifty day simple moving average is $497.09 and its two-hundred day simple moving average is $476.61. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The company has a market cap of $42.54 billion, a price-to-earnings ratio of 211.95, a P/E/G ratio of 10.77 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company's revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 earnings per share. Research analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group cut their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Barclays lowered their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Citizens Jmp reiterated a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Piper Sandler increased their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Finally, Needham & Company LLC raised their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus price target of $725.25.

Axon Enterprise Company 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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