Axon Enterprise, Inc $AXON Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON) by 19.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,717 shares of the biotechnology company’s stock after selling 59,470 shares during the period. Royal Bank of Canada owned 0.31% of Axon Enterprise worth $107,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXON. Empowered Funds LLC grew its position in shares of Axon Enterprise by 90.1% in the 1st quarter. Empowered Funds LLC now owns 6,320 shares of the biotechnology company’s stock worth $2,684,000 after acquiring an additional 2,996 shares in the last quarter. Evelyn Partners Investment Management LLP raised its position in shares of Axon Enterprise by 42.6% during the 1st quarter. Evelyn Partners Investment Management LLP now owns 1,550 shares of the biotechnology company’s stock valued at $658,000 after acquiring an additional 463 shares in the last quarter. Evelyn Partners Investment Management Services Ltd raised its position in shares of Axon Enterprise by 18.6% during the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 862 shares of the biotechnology company’s stock valued at $366,000 after acquiring an additional 135 shares in the last quarter. Ashford Capital Management Inc. lifted its stake in Axon Enterprise by 6.0% during the first quarter. Ashford Capital Management Inc. now owns 30,955 shares of the biotechnology company’s stock worth $13,146,000 after purchasing an additional 1,756 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Axon Enterprise by 9.3% during the first quarter. Quantinno Capital Management LP now owns 36,703 shares of the biotechnology company’s stock worth $15,588,000 after purchasing an additional 3,123 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Transactions at Axon Enterprise

In other news, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,989 shares of company stock worth $30,527,983 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Piper Sandler increased their target price on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. UBS Group reduced their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $725.25.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $527.76 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The firm has a market capitalization of $42.54 billion, a PE ratio of 211.95, a P/E/G ratio of 10.72 and a beta of 1.38. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The business’s fifty day moving average price is $497.09 and its two-hundred day moving average price is $476.61.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 earnings per share. On average, research analysts expect that Axon Enterprise, Inc will post 1.63 EPS 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.