Shell Asset Management Co. Cuts Holdings in Axon Enterprise, Inc $AXON

Shell Asset Management Co. reduced its position in Axon Enterprise, Inc (NASDAQ:AXON) by 62.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 930 shares of the biotechnology company’s stock after selling 1,550 shares during the period. Shell Asset Management Co.’s holdings in Axon Enterprise were worth $667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in shares of Axon Enterprise by 4.8% during the 2nd quarter. Westside Investment Management Inc. now owns 283 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 13 shares in the last quarter. CVA Family Office LLC increased its position in Axon Enterprise by 26.9% in the second quarter. CVA Family Office LLC now owns 66 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 14 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Axon Enterprise by 2.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock valued at $421,000 after purchasing an additional 14 shares in the last quarter. Vicus Capital lifted its position in Axon Enterprise by 3.7% during the third quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 14 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after buying an additional 15 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Transactions at Axon Enterprise

In related news, CFO Brittany Bagley sold 2,000 shares of Axon Enterprise stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $580.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief financial officer owned 103,501 shares in the company, valued at $60,030,580. This trade represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,040 shares of company stock valued at $27,249,338. Company insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

AXON has been the topic of several recent research reports. Barclays decreased their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. UBS Group dropped their target price on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a report on Tuesday, January 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $805.71.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $429.67 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $555.10 and its two-hundred day moving average is $645.15. Axon Enterprise, Inc has a 52 week low of $396.41 and a 52 week high of $885.91. The company has a market capitalization of $33.91 billion, a PE ratio of 135.97, a price-to-earnings-growth ratio of 12.94 and a beta of 1.48.

Axon Enterprise 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.