Exchange Traded Concepts LLC Sells 1,395 Shares of Axon Enterprise, Inc $AXON

Exchange Traded Concepts LLC reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 64.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754 shares of the biotechnology company’s stock after selling 1,395 shares during the period. Exchange Traded Concepts LLC’s holdings in Axon Enterprise were worth $428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXON. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 376,904 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Axon Enterprise by 53.8% in the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after purchasing an additional 330,213 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Axon Enterprise by 1.6% during the 3rd quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company’s stock worth $533,871,000 after buying an additional 11,726 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Axon Enterprise by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company’s stock worth $302,208,000 after buying an additional 12,736 shares in the last quarter. Finally, Winslow Capital Management LLC lifted its position in shares of Axon Enterprise by 43.2% during the 2nd quarter. Winslow Capital Management LLC now owns 375,580 shares of the biotechnology company’s stock worth $310,958,000 after buying an additional 113,326 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the sale, the insider directly owned 55,588 shares in the company, valued at approximately $29,740,135.88. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total value of $76,930.00. Following the completion of the transaction, the director directly owned 1,159 shares of the company’s stock, valued at approximately $567,910. This trade represents a 11.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,855 shares of company stock valued at $13,299,928 over the last quarter. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXON. Royal Bank Of Canada reduced their price objective on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Piper Sandler dropped their target price on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Morgan Stanley reduced their price target on shares of Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Craig Hallum reaffirmed a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. Finally, William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $762.93.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $412.81 on Monday. 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, Inc has a fifty-two week low of $396.41 and a fifty-two week high of $885.91. The company has a 50 day simple moving average of $482.08 and a two-hundred day simple moving average of $577.93. The company has a market capitalization of $33.19 billion, a PE ratio of 271.59, a P/E/G ratio of 8.81 and a beta of 1.61.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) 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 firm had revenue of $796.72 million for the quarter, compared to the consensus estimate of $755.29 million. During the same quarter in the previous year, the company earned $2.08 EPS. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. Research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Axon Enterprise Company 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.