Strategy Capital LLC Trims Stock Position in Axon Enterprise, Inc $AXON

Strategy Capital LLC lessened its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 386,742 shares of the biotechnology company’s stock after selling 44,835 shares during the quarter. Axon Enterprise makes up approximately 16.2% of Strategy Capital LLC’s holdings, making the stock its 2nd biggest holding. Strategy Capital LLC owned about 0.49% of Axon Enterprise worth $219,642,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. NEOS Investment Management LLC raised its position in shares of Axon Enterprise by 82.7% in the 3rd quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company’s stock valued at $18,206,000 after acquiring an additional 11,482 shares during the period. Legal & General Group Plc raised its position in shares of Axon Enterprise by 1.3% in the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after acquiring an additional 5,419 shares during the period. Vanguard Group Inc. raised its position in shares of Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after acquiring an additional 376,904 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $13,116,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Axon Enterprise by 93.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock valued at $13,270,000 after acquiring an additional 11,262 shares during the period. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $441.73 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market capitalization of $35.60 billion, a P/E ratio of 177.40, a price-to-earnings-growth ratio of 8.11 and a beta of 1.45. The company’s 50 day moving average price is $410.34 and its two-hundred day moving average price is $489.19. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. During the same period last year, the company posted $1.47 EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis. On average, analysts expect that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,344 shares of company stock valued at $19,267,315 over the last ninety days. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

AXON has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a report on Thursday, May 7th. TD Cowen dropped their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Barclays dropped their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, UBS Group dropped their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $712.75.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.