Virtu Financial LLC Sells 5,214 Shares of Axon Enterprise, Inc $AXON

Key Points

• Virtu Financial LLC cut its Axon Enterprise stake by 74.2% in the fourth quarter, selling 5,214 shares and ending with 1,810 shares valued at about $1.03 million.
• Several other large institutions, including Vanguard and Geode, increased their positions, and institutional investors now own 79.08% of Axon’s shares.
• Axon reported stronger-than-expected quarterly results, with EPS of $1.61 and revenue of $807.35 million, while analysts maintain a Moderate Buy consensus with a $712.75 price target.

Virtu Financial LLC lessened its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 74.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,810 shares of the biotechnology company's stock after selling 5,214 shares during the quarter. Virtu Financial LLC's holdings in Axon Enterprise were worth $1,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Axon Enterprise by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after purchasing an additional 53,060 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Axon Enterprise by 1.6% in the fourth 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 in the last quarter. Baillie Gifford & Co. boosted its stake in Axon Enterprise by 1,198.7% during the fourth 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 during the last quarter. Sands Capital Management LLC grew its holdings in Axon Enterprise by 11.6% during the 4th 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 in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after buying an additional 1,179,038 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Citigroup reiterated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. TD Cowen reduced their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Finally, Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

Insider Activity

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares of the company's stock, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joshua Isner sold 13,000 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 38,989 shares of company stock valued at $19,090,083. Insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $423.40 on Monday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 170.04, a PEG ratio of 7.70 and a beta of 1.45. The business's 50 day moving average price is $413.25 and its 200-day moving average price is $485.28.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The company 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%.Axon Enterprise's revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 EPS. On average, sell-side analysts expect that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

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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