Dorsey Wright & Associates Trims Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Dorsey Wright & Associates cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,753 shares of the biotechnology company’s stock after selling 4,288 shares during the quarter. Axon Enterprise accounts for approximately 1.3% of Dorsey Wright & Associates’ holdings, making the stock its 19th biggest holding. Dorsey Wright & Associates’ holdings in Axon Enterprise were worth $5,130,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of Axon Enterprise during the 4th quarter worth $480,000. Teacher Retirement System of Texas bought a new position in Axon Enterprise during the fourth quarter valued at approximately $399,000. LPL Financial LLC lifted its position in Axon Enterprise by 13.5% during the fourth quarter. LPL Financial LLC now owns 101,431 shares of the biotechnology company’s stock valued at $60,282,000 after purchasing an additional 12,052 shares during the last quarter. Corebridge Financial Inc. raised its position in Axon Enterprise by 26.1% during the fourth quarter. Corebridge Financial Inc. now owns 24,139 shares of the biotechnology company’s stock valued at $14,346,000 after purchasing an additional 5,002 shares during the period. Finally, CoreFirst Bank & Trust purchased a new stake in Axon Enterprise during the 4th quarter valued at $59,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

AXON stock opened at $705.22 on Thursday. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The firm has a market capitalization of $54.90 billion, a P/E ratio of 170.34, a P/E/G ratio of 80.34 and a beta of 1.29. The business’s 50-day moving average is $764.63 and its two-hundred day moving average is $647.88.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million during the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter last year, the business earned $1.15 EPS. The business’s revenue was up 31.3% on a year-over-year basis. Analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AXON. Needham & Company LLC upped their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Barclays raised their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Bank of America increased their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Finally, Wolfe Research initiated coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $772.08.

Insider Activity at Axon Enterprise

In other news, CRO Cameron Brooks sold 3,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the completion of the transaction, the executive owned 19,447 shares in the company, valued at approximately $14,405,559.72. This trade represents a 13.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the sale, the director directly owned 17,740 shares in the company, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,642 shares of company stock valued at $25,090,528. 4.40% of the stock is currently owned by corporate insiders.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.