Axon Enterprise, Inc $AXON Position Lowered by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,364 shares of the biotechnology company’s stock after selling 22,077 shares during the period. Axon Enterprise comprises approximately 5.2% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 5th largest position. Zevenbergen Capital Investments LLC’s holdings in Axon Enterprise were worth $265,070,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AXON. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the 4th quarter worth about $480,000. Cresset Asset Management LLC lifted its stake in Axon Enterprise by 5.7% during the first quarter. Cresset Asset Management LLC now owns 1,833 shares of the biotechnology company’s stock worth $964,000 after purchasing an additional 99 shares during the last quarter. Martingale Asset Management L P lifted its stake in Axon Enterprise by 30.2% during the first quarter. Martingale Asset Management L P now owns 470 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 109 shares during the last quarter. CW Advisors LLC boosted its holdings in Axon Enterprise by 1,371.6% in the first quarter. CW Advisors LLC now owns 11,449 shares of the biotechnology company’s stock valued at $6,022,000 after purchasing an additional 10,671 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in Axon Enterprise by 1.4% in the first quarter. Norinchukin Bank The now owns 6,867 shares of the biotechnology company’s stock valued at $3,612,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AXON shares. Royal Bank Of Canada assumed coverage on shares of Axon Enterprise in a research report on Monday, November 17th. They set an “outperform” rating and a $860.00 price objective for the company. Barclays cut their price target 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. Needham & Company LLC restated a “buy” rating and issued a $870.00 price objective on shares of Axon Enterprise in a research note on Wednesday, September 24th. JMP Securities reiterated a “market outperform” rating and set a $825.00 target price on shares of Axon Enterprise in a research report on Monday, September 29th. Finally, Piper Sandler reduced their target price on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $802.71.

Axon Enterprise Trading Up 5.5%

NASDAQ AXON opened at $594.20 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. The firm has a market cap of $46.89 billion, a PE ratio of 188.04, a P/E/G ratio of 129.37 and a beta of 1.40. Axon Enterprise, Inc has a one year low of $469.24 and a one year high of $885.91. The firm’s fifty day moving average is $608.22 and its two-hundred day moving average is $708.02.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same quarter last year, the company posted $1.45 EPS. Axon Enterprise’s quarterly revenue was up 30.6% on a year-over-year basis. Analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the sale, the chief executive officer owned 3,110,997 shares in the company, valued at $1,717,021,464.24. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brittany Bagley sold 2,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $580.00, for a total value of $1,160,000.00. Following the sale, the chief financial officer directly owned 103,501 shares of the company’s stock, valued at approximately $60,030,580. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,406 shares of company stock worth $38,521,038 in the last ninety days. Company insiders own 4.40% of the company’s stock.

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.