Axon Enterprise, Inc $AXON Holdings Cut by CenterBook Partners LP

CenterBook Partners LP reduced its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 58.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,049 shares of the biotechnology company’s stock after selling 5,586 shares during the period. CenterBook Partners LP’s holdings in Axon Enterprise were worth $3,352,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hemington Wealth Management boosted its position in Axon Enterprise by 70.8% during the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. Whipplewood Advisors LLC raised its stake in shares of Axon Enterprise by 192.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 27 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of Axon Enterprise by 96.2% during the 2nd quarter. NewSquare Capital LLC now owns 51 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 25 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Axon Enterprise by 44.7% during the 2nd quarter. Washington Trust Advisors Inc. now owns 55 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 17 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 24 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $521.99 on Friday. The firm has a market capitalization of $41.19 billion, a PE ratio of 128.89, a PEG ratio of 29.49 and a beta of 1.45. Axon Enterprise, Inc has a 1 year low of $469.24 and a 1 year high of $885.91. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $681.33 and its 200 day simple moving average is $731.96.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the company earned $1.45 earnings per share. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeri Williams sold 100 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $752.54, for a total value of $75,254.00. Following the completion of the sale, the director owned 1,416 shares in the company, valued at approximately $1,065,596.64. This trade represents a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $713.88, for a total value of $3,569,400.00. Following the transaction, the chief financial officer owned 93,592 shares in the company, valued at $66,813,456.96. This represents a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,622 shares of company stock valued at $26,439,364. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

AXON has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Royal Bank Of Canada started coverage on shares of Axon Enterprise in a report on Monday, November 17th. They set an “outperform” rating and a $860.00 price target on the stock. UBS Group decreased their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $870.00 target price on shares of Axon Enterprise in a research report on Wednesday, September 24th. Finally, Piper Sandler reduced their price target on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $814.00.

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.