Wealthfront Advisers LLC Sells 3,133 Shares of Axon Enterprise, Inc $AXON

Key Points

• Wealthfront Advisers LLC cut its Axon stake by 35.3% in Q4, selling 3,133 shares and leaving it with 5,733 shares valued at about $3.26 million.
• Other institutions were active: Baillie Gifford bought 1,516,099 shares to hold 1,642,578 shares (~$932.9M), Vanguard holds 9.31M shares, and institutional investors now own roughly 79.08% of Axon.
• Insiders have sold 13,855 shares (~$7.11M) over the past 90 days (insiders own 4.4%), while analysts rate Axon a Moderate Buy (average price target $749.63) even as the stock trades near $402 after a recent EPS and revenue beat.

Wealthfront Advisers LLC lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 35.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,733 shares of the biotechnology company's stock after selling 3,133 shares during the quarter. Wealthfront Advisers LLC's holdings in Axon Enterprise were worth $3,256,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AXON. Baillie Gifford & Co. lifted its stake in Axon Enterprise by 1,198.7% in 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 in the last quarter. Vanguard Group Inc. lifted its stake in Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock valued at $6,684,217,000 after buying an additional 376,904 shares in the last quarter. Jennison Associates LLC lifted its stake in Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock valued at $677,412,000 after buying an additional 330,213 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Axon Enterprise by 23.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock valued at $476,089,000 after buying an additional 156,647 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Axon Enterprise by 2,541.0% in the third quarter. Artisan Partners Limited Partnership now owns 96,053 shares of the biotechnology company's stock valued at $68,931,000 after buying an additional 99,988 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of research reports. UBS Group cut their price target on shares of Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Piper Sandler cut their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. TD Cowen cut their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Craig Hallum reissued a "buy" rating and issued a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $749.63.

Insiders Place Their Bets

In related news, CAO Jennifer H. Mak sold 1,500 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erika Nardini sold 198 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the transaction, the director owned 1,946 shares in the company, valued at approximately $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,855 shares of company stock valued at $7,109,828 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $402.31 on Friday. The company's fifty day simple moving average is $454.05 and its 200-day simple moving average is $535.39. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $32.41 billion, a PE ratio of 264.68, a P/E/G ratio of 8.57 and a beta of 1.61. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.55. The business had revenue of $796.72 million for the quarter, compared to analyst estimates of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Equities research analysts expect that Axon Enterprise, Inc will post 1.41 EPS for the current fiscal 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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