Driehaus Capital Management LLC Sells 217,269 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Driehaus Capital Management LLC reduced its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 51.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,035 shares of the biotechnology company’s stock after selling 217,269 shares during the period. Axon Enterprise makes up about 1.0% of Driehaus Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Driehaus Capital Management LLC’s holdings in Axon Enterprise were worth $119,479,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AXON. Asset Dedication LLC boosted its stake in shares of Axon Enterprise by 11.3% during the 4th quarter. Asset Dedication LLC now owns 178 shares of the biotechnology company’s stock worth $106,000 after acquiring an additional 18 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Axon Enterprise by 1.3% during the fourth quarter. Bleakley Financial Group LLC now owns 1,527 shares of the biotechnology company’s stock valued at $908,000 after purchasing an additional 20 shares during the period. Venturi Wealth Management LLC increased its position in Axon Enterprise by 2.7% in the fourth quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company’s stock worth $477,000 after buying an additional 21 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Axon Enterprise by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company’s stock worth $513,000 after buying an additional 22 shares during the period. Finally, Burns Matteson Capital Management LLC lifted its position in shares of Axon Enterprise by 3.4% during the 4th quarter. Burns Matteson Capital Management LLC now owns 757 shares of the biotechnology company’s stock valued at $450,000 after buying an additional 25 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $600.35 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise, Inc. has a 1-year low of $273.52 and a 1-year high of $715.99. The business has a 50 day simple moving average of $558.13 and a two-hundred day simple moving average of $580.55. The stock has a market capitalization of $46.74 billion, a PE ratio of 155.13, a P/E/G ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The firm had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period last year, the firm posted $1.15 earnings per share. Axon Enterprise’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, research analysts predict that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the transaction, the chief executive officer now owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeri Williams sold 307 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $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. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AXON. The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Barclays restated a “hold” rating on shares of Axon Enterprise in a research report on Monday, March 10th. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen began coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Axon Enterprise in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $626.45.

Axon Enterprise Company Profile

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.