Granahan Investment Management LLC lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 19.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 90,692 shares of the biotechnology company’s stock after buying an additional 14,978 shares during the period. Axon Enterprise accounts for approximately 1.9% of Granahan Investment Management LLC’s holdings, making the stock its 12th largest holding. Granahan Investment Management LLC’s holdings in Axon Enterprise were worth $38,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXON. Baillie Gifford & Co. grew its stake in Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after acquiring an additional 1,516,099 shares during the period. Edgewood Management LLC acquired a new position in Axon Enterprise during the fourth quarter worth $846,516,000. Wellington Management Group LLP raised its position in Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the period. Norges Bank purchased a new position in Axon Enterprise during the fourth quarter valued at $515,764,000. Finally, Sands Capital Management LLC lifted its holdings in Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.
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 that occurred on Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total value of $6,437,900.00. Following the transaction, the chief executive officer directly owned 3,040,997 shares of the company’s stock, valued at $1,957,763,458.63. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $478.97, for a total value of $270,139.08. Following the transaction, the director owned 3,632 shares in the company, valued at approximately $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,989 shares of company stock worth $30,527,983 in the last 90 days. 4.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
View Our Latest Analysis on AXON
Axon Enterprise Price Performance
Axon Enterprise stock opened at $502.34 on Friday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The firm has a market capitalization of $40.49 billion, a price-to-earnings ratio of 201.74, a PEG ratio of 10.04 and a beta of 1.38. The company has a fifty day simple moving average of $483.26 and a 200-day simple moving average of $479.59. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.
Axon Enterprise (NASDAQ:AXON – Get Free Report) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.47 earnings per share. On average, equities analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.
Axon Enterprise Company 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.
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