Sterling Capital Management LLC Sells 2,886 Shares of Axon Enterprise, Inc $AXON

Sterling Capital Management LLC lessened its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 31.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,350 shares of the biotechnology company’s stock after selling 2,886 shares during the quarter. Sterling Capital Management LLC’s holdings in Axon Enterprise were worth $2,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV purchased a new stake in Axon Enterprise in the 4th quarter worth $28,000. Sound Income Strategies LLC grew its position in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the fourth quarter valued at about $30,000. AlphaCentric Advisors LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth about $34,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth about $35,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Up 0.1%

AXON opened at $465.12 on Monday. The stock has a 50-day moving average of $420.65 and a 200 day moving average of $481.58. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The firm has a market cap of $37.49 billion, a P/E ratio of 186.79, a P/E/G ratio of 9.48 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating 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 return on equity of 3.78% and a net margin of 6.90%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company earned $1.47 EPS. As a group, research analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Insider Buying and Selling

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the transaction, the director owned 3,632 shares in the company, valued at $1,739,619.04. The trade was a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares of the company’s stock, valued at $24,855,000. This trade represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,989 shares of company stock valued at $19,090,083 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AXON shares. TD Cowen dropped their price target on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a report on Thursday, May 7th. Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. UBS Group cut their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $712.75.

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.