Axon Enterprise, Inc $AXON Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 31.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,115 shares of the biotechnology company’s stock after selling 958 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Axon Enterprise were worth $1,518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its holdings in Axon Enterprise by 14.4% during the third quarter. Parkside Financial Bank & Trust now owns 247 shares of the biotechnology company’s stock valued at $177,000 after purchasing an additional 31 shares in the last quarter. iA Global Asset Management Inc. raised its position in shares of Axon Enterprise by 5.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 9,090 shares of the biotechnology company’s stock worth $6,523,000 after purchasing an additional 469 shares during the last quarter. Dilation Capital Management LP lifted its stake in Axon Enterprise by 64.9% in the 3rd quarter. Dilation Capital Management LP now owns 7,596 shares of the biotechnology company’s stock valued at $5,451,000 after buying an additional 2,989 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new position in Axon Enterprise in the 3rd quarter valued at about $1,014,000. Finally, Rakuten Investment Management Inc. acquired a new stake in Axon Enterprise in the 3rd quarter worth about $1,417,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Up 0.9%

NASDAQ AXON opened at $610.22 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 52 week low of $469.24 and a 52 week high of $885.91. The business’s fifty day simple moving average is $578.93 and its 200-day simple moving average is $673.48. The firm has a market cap of $48.15 billion, a PE ratio of 193.11, a P/E/G ratio of 19.05 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.Axon Enterprise’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period last year, the firm 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.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the completion of the sale, the president owned 249,502 shares of the company’s stock, valued at $137,874,805.20. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $551.92, for a total value of $5,519,200.00. Following the transaction, the chief executive officer owned 3,110,997 shares of the company’s stock, valued at approximately $1,717,021,464.24. This represents a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,540 shares of company stock valued at $34,684,738 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of research analyst reports. Royal Bank Of Canada began coverage on Axon Enterprise in a report on Monday, November 17th. They set an “outperform” rating and a $860.00 target price for the company. Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research note on Tuesday, January 6th. Piper Sandler decreased their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Barclays lowered their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have given 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 $805.71.

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.