Granahan Investment Management LLC Has $96.08 Million Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Granahan Investment Management LLC lessened its stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 31.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,667 shares of the biotechnology company's stock after selling 73,315 shares during the period. Axon Enterprise accounts for about 4.0% of Granahan Investment Management LLC's holdings, making the stock its biggest position. Granahan Investment Management LLC owned approximately 0.21% of Axon Enterprise worth $96,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company's stock valued at $5,019,886,000 after purchasing an additional 275,959 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock valued at $1,095,542,000 after buying an additional 65,097 shares in the last quarter. Capital World Investors grew its holdings in Axon Enterprise by 86.4% during the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after acquiring an additional 841,772 shares during the period. Alliancebernstein L.P. raised its position in Axon Enterprise by 273.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock worth $659,128,000 after acquiring an additional 812,337 shares in the last quarter. Finally, Norges Bank acquired a new stake in Axon Enterprise in the fourth quarter valued at $482,081,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AXON. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, January 27th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Barclays lifted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday. Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Finally, Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus target price of $640.91.

Insider Activity

In related news, Director Julie A. Cullivan sold 657 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $700.00, for a total value of $459,900.00. Following the sale, the director now directly owns 1,735 shares of the company's stock, valued at $1,214,500. This represents a 27.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeri Williams sold 307 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the transaction, the director now owns 1,627 shares in the company, valued at $899,275.44. This trade represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,964 shares of company stock worth $12,189,275. 4.40% of the stock is currently owned by insiders.

Axon Enterprise Stock Up 4.6%

Axon Enterprise stock traded up $31.67 during midday trading on Tuesday, hitting $724.77. 868,238 shares of the stock were exchanged, compared to its average volume of 767,097. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $732.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The firm has a market cap of $56.42 billion, a P/E ratio of 187.28, a P/E/G ratio of 5.17 and a beta of 1.24. The company has a 50 day moving average price of $572.18 and a two-hundred day moving average price of $588.52.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company's revenue was up 31.3% compared to the same quarter last year. On average, sell-side analysts predict that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

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.