Aberdeen Group plc Reduces Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Aberdeen Group plc reduced its position in Axon Enterprise, Inc (NASDAQ:AXON) by 50.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,554 shares of the biotechnology company’s stock after selling 129,662 shares during the period. Aberdeen Group plc owned about 0.17% of Axon Enterprise worth $67,051,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. LaSalle St. Investment Advisors LLC increased its position in Axon Enterprise by 2.1% during the first quarter. LaSalle St. Investment Advisors LLC now owns 777 shares of the biotechnology company’s stock worth $408,000 after buying an additional 16 shares in the last quarter. Pinion Investment Advisors LLC increased its position in Axon Enterprise by 3.0% during the first quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company’s stock worth $341,000 after buying an additional 19 shares in the last quarter. Kentucky Retirement Systems increased its position in Axon Enterprise by 0.4% during the first quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company’s stock worth $2,605,000 after buying an additional 19 shares in the last quarter. WCM Investment Management LLC increased its position in Axon Enterprise by 0.8% during the first quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company’s stock worth $1,306,000 after buying an additional 19 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in Axon Enterprise by 0.5% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,561 shares of the biotechnology company’s stock worth $1,873,000 after buying an additional 19 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In related news, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction 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 transaction, the director owned 17,740 shares in the company, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the transaction, the president owned 238,379 shares in the company, valued at $177,892,712.54. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,995 shares of company stock valued at $41,925,130 in the last ninety days. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AXON shares. Needham & Company LLC set a $870.00 price target on Axon Enterprise and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wolfe Research started coverage on Axon Enterprise in a research report on Monday, July 7th. They set an “outperform” rating for the company. The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. JMP Securities raised their price target on Axon Enterprise from $725.00 to $825.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 22nd. Finally, Barclays raised their price target on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $837.69.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $754.24 on Friday. The company has a market cap of $59.21 billion, a P/E ratio of 186.23, a P/E/G ratio of 27.52 and a beta of 1.36. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 52 week low of $346.71 and a 52 week high of $885.91. The business has a fifty day simple moving average of $773.85 and a 200-day simple moving average of $670.09.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The firm had revenue of $668.54 million for the quarter, compared to analysts’ expectations of $641.77 million. During the same quarter last year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

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.