Aberdeen Group plc Sells 34,426 Shares of Axon Enterprise, Inc $AXON

Aberdeen Group plc cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 37.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,852 shares of the biotechnology company’s stock after selling 34,426 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Axon Enterprise worth $32,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXON. NEOS Investment Management LLC lifted its holdings in shares of Axon Enterprise by 82.7% in the third quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company’s stock worth $18,206,000 after buying an additional 11,482 shares in the last quarter. Vanguard Group Inc. increased its holdings in Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after acquiring an additional 376,904 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Axon Enterprise by 3.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock worth $132,349,000 after purchasing an additional 5,953 shares in the last quarter. BIT Capital GmbH boosted its holdings in Axon Enterprise by 75.6% in the 3rd quarter. BIT Capital GmbH now owns 3,535 shares of the biotechnology company’s stock valued at $2,537,000 after purchasing an additional 1,522 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Axon Enterprise by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company’s stock valued at $302,208,000 after purchasing an additional 12,736 shares during the period. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON opened at $412.81 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $33.19 billion, a P/E ratio of 271.59, a PEG ratio of 8.81 and a beta of 1.61. The stock has a 50-day moving average price of $482.08 and a 200-day moving average price of $579.14. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91.

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

Insider Transactions at Axon Enterprise

In related news, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 55,588 shares in the company, valued at $29,740,135.88. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 23,855 shares of company stock valued at $13,299,928. 4.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AXON has been the topic of a number of recent analyst reports. Barclays lowered their price objective on Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Royal Bank Of Canada decreased their target price 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. Morgan Stanley lowered their price target on Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Piper Sandler dropped their price target on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Friday, March 27th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.