Zevenbergen Capital Investments LLC Lowers Stake in Axon Enterprise, Inc $AXON

Zevenbergen Capital Investments LLC decreased its position in Axon Enterprise, Inc (NASDAQ:AXON) by 26.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 223,002 shares of the biotechnology company’s stock after selling 79,149 shares during the period. Axon Enterprise comprises about 2.1% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 17th biggest holding. Zevenbergen Capital Investments LLC’s holdings in Axon Enterprise were worth $92,292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AXON. Keating Financial Advisory Services Inc. bought a new stake in shares of Axon Enterprise in the second quarter valued at $31,000. Wealth Enhancement Trust Services Inc. bought a new position in shares of Axon Enterprise during the 3rd quarter worth $33,000. Washington Trust Advisors Inc. grew its stake in shares of Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 65 shares during the period. Delos Wealth Advisors LLC purchased a new stake in Axon Enterprise in the 2nd quarter worth about $45,000. Finally, Owl Creek Wealth Partners LLC raised its stake in Axon Enterprise by 84.8% in the 2nd quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares during the period. 79.08% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the sale, the president owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 47,397 shares of company stock worth $26,722,984. Insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

AXON stock traded up $11.31 during mid-day trading on Thursday, reaching $417.31. 1,570,770 shares of the company traded hands, compared to its average volume of 1,056,396. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The company has a market capitalization of $33.90 billion, a P/E ratio of 173.16, a P/E/G ratio of 7.88 and a beta of 1.44. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $764.02. The company has a fifty day moving average price of $522.70 and a 200-day moving average price of $477.18.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period in the prior year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. As a group, analysts anticipate that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

AXON has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. UBS Group boosted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $715.00 price target on shares of Axon Enterprise in a research note on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Finally, Citizens Jmp reissued a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.