Dorsey Wright & Associates Lowers Stake in Axon Enterprise, Inc $AXON

Dorsey Wright & Associates lessened its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,208 shares of the biotechnology company’s stock after selling 545 shares during the quarter. Axon Enterprise makes up 1.8% of Dorsey Wright & Associates’ holdings, making the stock its 12th largest holding. Dorsey Wright & Associates’ holdings in Axon Enterprise were worth $7,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Nuveen LLC purchased a new position in Axon Enterprise in the first quarter worth about $264,796,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Axon Enterprise during the second quarter valued at approximately $255,833,000. Vanguard Group Inc. increased its position in shares of Axon Enterprise by 3.5% during the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after acquiring an additional 305,252 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after acquiring an additional 212,931 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at about $93,088,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Down 1.7%

Shares of Axon Enterprise stock opened at $533.77 on Wednesday. Axon Enterprise, Inc has a 1-year low of $469.24 and a 1-year high of $885.91. The company’s fifty day simple moving average is $694.97 and its 200-day simple moving average is $734.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The stock has a market capitalization of $42.12 billion, a PE ratio of 131.80, a P/E/G ratio of 29.49 and a beta of 1.45.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $855.00 price objective (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Bank of America boosted their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Barclays lowered their price target on Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. The Goldman Sachs Group cut their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Cowen reiterated a “buy” rating on shares of Axon Enterprise 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.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $814.00.

Insider Buying and Selling

In related news, Director Jeri Williams sold 100 shares of the stock in a transaction that occurred on 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 directly owned 1,416 shares of the company’s stock, valued at approximately $1,065,596.64. This represents a 6.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer H. Mak sold 77 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $760.00, for a total transaction of $58,520.00. Following the sale, the chief accounting officer owned 15,003 shares in the company, valued at approximately $11,402,280. The trade was a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 38,622 shares of company stock worth $26,439,364 over the last ninety days. 4.40% of the stock is owned by corporate insiders.

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.