Axon Enterprise, Inc $AXON Stake Trimmed by Granahan Investment Management LLC

Granahan Investment Management LLC lessened its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,451 shares of the biotechnology company’s stock after selling 6,188 shares during the period. Axon Enterprise comprises 2.3% of Granahan Investment Management LLC’s investment portfolio, making the stock its 9th largest holding. Granahan Investment Management LLC owned about 0.10% of Axon Enterprise worth $55,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AXON. Stone House Investment Management LLC acquired a new position in shares of Axon Enterprise in the third quarter worth about $29,000. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the second quarter valued at approximately $37,000. Root Financial Partners LLC purchased a new stake in shares of Axon Enterprise in the 3rd quarter valued at approximately $34,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Axon Enterprise in the 2nd quarter worth approximately $56,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on AXON shares. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Barclays reduced their target price on Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price for the company in a research report on Tuesday, January 6th. Piper Sandler lowered their price target on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group dropped their price target on Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and an average target price of $762.93.

Axon Enterprise Stock Performance

Shares of AXON opened at $496.18 on Monday. The company has a market capitalization of $39.89 billion, a PE ratio of 326.44, a PEG ratio of 10.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The company’s 50 day moving average price is $531.08 and its 200 day moving average price is $608.20. Axon Enterprise, Inc has a 52 week low of $396.41 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.55. The company had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. Research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total value of $1,070,020.00. Following the transaction, the insider owned 55,588 shares in the company, valued at $29,740,135.88. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total value of $5,002,400.00. Following the sale, the chief executive officer directly owned 3,090,997 shares of the company’s stock, valued at $1,546,240,339.28. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 24,634 shares of company stock valued at $13,803,095. 5.70% of the stock is owned by insiders.

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.