Y Intercept Hong Kong Ltd Takes Position in Axon Enterprise, Inc $AXON

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Axon Enterprise in Q1, buying 3,180 shares valued at about $1.35 million. The filing also notes that 79.08% of Axon’s stock is owned by institutional investors.
• Analysts remain mostly upbeat on Axon despite some target cuts: the stock currently carries a Moderate Buy consensus with a $722.12 average price target. Recent moves included Needham raising its target to $750 and Zacks upgrading the stock to Strong Buy.
• Axon reported strong quarterly results, with EPS of $1.61 topping estimates and revenue rising 33.7% year over year to $807.35 million. However, insiders have been selling shares recently, including sales by the CRO and president totaling millions of dollars.

Y Intercept Hong Kong Ltd purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,180 shares of the biotechnology company's stock, valued at approximately $1,351,000.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in Axon Enterprise during the second quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC grew its position in Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $34,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Needham & Company LLC increased their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Monday, July 6th. Zacks Research raised Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Finally, UBS Group cut their price target on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $722.12.

Insiders Place Their Bets

In other news, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the transaction, the executive directly owned 49,710 shares of the company's stock, valued at $24,855,000. The trade was a 2.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president owned 169,125 shares of the company's stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock traded down $16.20 on Friday, hitting $565.80. 762,731 shares of the company's stock were exchanged, compared to its average volume of 1,119,821. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a 50-day simple moving average of $457.90 and a 200-day simple moving average of $483.77. 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 stock has a market capitalization of $45.60 billion, a PE ratio of 227.23, a PEG ratio of 11.87 and a beta of 1.38.

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

About Axon Enterprise

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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