Alliancebernstein L.P. Decreases Stake in Axon Enterprise, Inc $AXON

Alliancebernstein L.P. reduced its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 35.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 692,910 shares of the biotechnology company’s stock after selling 374,904 shares during the period. Alliancebernstein L.P. owned approximately 0.88% of Axon Enterprise worth $497,260,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AXON. Newbridge Financial Services Group Inc. grew its stake in Axon Enterprise by 2.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock valued at $421,000 after purchasing an additional 14 shares during the last quarter. Vicus Capital raised its stake in shares of Axon Enterprise by 3.7% in the third quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 14 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 15 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Axon Enterprise by 2.5% during the third quarter. Blue Trust Inc. now owns 645 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 16 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Axon Enterprise by 5.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 313 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 16 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Trading Down 0.6%

Axon Enterprise stock opened at $496.18 on Monday. The firm has a market cap of $39.89 billion, a PE ratio of 326.44, a P/E/G ratio of 10.59 and a beta of 1.46. Axon Enterprise, Inc has a 12 month low of $396.41 and a 12 month high of $885.91. The stock’s 50 day simple moving average is $531.08 and its two-hundred day simple moving average is $608.20. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on AXON shares. Craig Hallum reiterated a “buy” rating and issued a $820.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. Barclays decreased their price objective on shares of Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. Morgan Stanley cut their price objective 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $762.93.

Insider Transactions at Axon Enterprise

In other 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 directly owned 3,090,997 shares in the company, valued at $1,546,240,339.28. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the completion of the transaction, the insider owned 55,588 shares of the company’s stock, valued at approximately $29,740,135.88. This represents a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,634 shares of company stock valued at $13,803,095 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.

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.