Dorsey Wright & Associates Cuts Stake in Axon Enterprise, Inc $AXON

Dorsey Wright & Associates cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,208 shares of the biotechnology company’s stock after selling 545 shares during the quarter. Axon Enterprise accounts for approximately 1.8% of Dorsey Wright & Associates’ holdings, making the stock its 12th biggest holding. Dorsey Wright & Associates’ holdings in Axon Enterprise were worth $7,624,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AXON. TD Waterhouse Canada Inc. raised its position in Axon Enterprise by 30.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,132 shares of the biotechnology company’s stock worth $2,428,000 after purchasing an additional 739 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Axon Enterprise by 15.2% during the second quarter. Wealthspire Advisors LLC now owns 484 shares of the biotechnology company’s stock valued at $401,000 after buying an additional 64 shares during the last quarter. Perennial Investment Advisors LLC grew its stake in shares of Axon Enterprise by 12.4% during the second quarter. Perennial Investment Advisors LLC now owns 918 shares of the biotechnology company’s stock valued at $760,000 after buying an additional 101 shares during the last quarter. Purus Wealth Management LLC increased its holdings in shares of Axon Enterprise by 2.5% in the second quarter. Purus Wealth Management LLC now owns 2,196 shares of the biotechnology company’s stock worth $1,818,000 after buying an additional 54 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Axon Enterprise by 804.6% in the 2nd quarter. Empowered Funds LLC now owns 18,345 shares of the biotechnology company’s stock valued at $15,189,000 after acquiring an additional 16,317 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 research firms recently issued reports on AXON. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Thursday, November 13th. Bank of America raised their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Barclays dropped their price target on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Craig Hallum upgraded shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price objective on the stock in a research report on Tuesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $814.00.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $743.64, for a total value of $7,436,400.00. Following the completion of the sale, the chief executive officer directly owned 3,043,982 shares in the company, valued at $2,263,626,774.48. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jennifer H. Mak sold 77 shares of Axon Enterprise stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $760.00, for a total value of $58,520.00. Following the sale, the chief accounting officer directly owned 15,003 shares in the company, valued at approximately $11,402,280. The trade was a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,622 shares of company stock valued at $26,439,364 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $533.77 on Wednesday. The stock has a fifty day moving average of $694.97 and a 200 day moving average of $734.66. Axon Enterprise, Inc has a 52 week low of $469.24 and a 52 week high of $885.91. The firm has a market capitalization of $42.12 billion, a price-to-earnings ratio of 131.80, a PEG ratio of 29.49 and a beta of 1.45. 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 (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $704.83 million. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Axon Enterprise 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.