Capital International Investors Sells 17,091 Shares of Axon Enterprise, Inc $AXON

Capital International Investors reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 22.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,669 shares of the biotechnology company’s stock after selling 17,091 shares during the quarter. Capital International Investors owned approximately 0.07% of Axon Enterprise worth $42,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Stone House Investment Management LLC purchased a new position in shares of Axon Enterprise during the 3rd quarter valued at $29,000. New Millennium Group LLC purchased a new stake in Axon Enterprise in the 3rd quarter worth $29,000. Root Financial Partners LLC purchased a new stake in Axon Enterprise in the 3rd quarter worth $34,000. Darwin Wealth Management LLC bought a new stake in Axon Enterprise during the second quarter valued at about $37,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Axon Enterprise during the second quarter valued at about $56,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $499.40 on Friday. The business’s 50 day moving average price is $532.43 and its 200-day moving average price is $612.29. Axon Enterprise, Inc has a fifty-two week low of $396.41 and a fifty-two week high of $885.91. The company has a market cap of $40.15 billion, a P/E ratio of 328.55, a P/E/G ratio of 11.05 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The company had revenue of $796.72 million for the quarter, compared to analyst estimates of $755.29 million. During the same period in the prior year, the company posted $2.08 EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the sale, the chief executive officer owned 3,090,997 shares of the company’s stock, valued at $1,546,240,339.28. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer H. Mak sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the sale, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,634 shares of company stock valued at $13,803,095 over the last three months. 4.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler decreased their target price on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a report on Tuesday, January 6th. Needham & Company LLC reduced their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Morgan Stanley dropped their target price on shares of Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $820.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $762.93.

About Axon Enterprise

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.