Griffin Asset Management Inc. Decreases Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Griffin Asset Management Inc. cut its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 50.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 700 shares of the biotechnology company’s stock after selling 727 shares during the quarter. Griffin Asset Management Inc.’s holdings in Axon Enterprise were worth $219,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth $26,000. BKM Wealth Management LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth $32,000. First PREMIER Bank bought a new position in shares of Axon Enterprise during the 1st quarter worth $33,000. Key Financial Inc grew its stake in shares of Axon Enterprise by 367.6% during the 4th quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 125 shares during the period. Finally, Lindbrook Capital LLC grew its stake in shares of Axon Enterprise by 43.3% during the 4th quarter. Lindbrook Capital LLC now owns 172 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 52 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of AXON opened at $294.24 on Friday. The company has a market cap of $22.21 billion, a PE ratio of 86.04 and a beta of 0.91. The company has a current ratio of 2.91, a quick ratio of 2.55 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $295.25 and a 200-day moving average price of $285.00. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Friday, May 10th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. The company had revenue of $460.74 million for the quarter, compared to analysts’ expectations of $441.57 million. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. Axon Enterprise’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. As a group, equities analysts forecast that Axon Enterprise, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Craig Hallum increased their price target on Axon Enterprise from $325.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. raised their target price on Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Barclays raised their target price on Axon Enterprise from $308.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a research note on Wednesday, April 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $375.00 target price on shares of Axon Enterprise in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $335.27.

Insider Activity at Axon Enterprise

In related news, Director Jeri Williams sold 308 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $310.07, for a total transaction of $95,501.56. Following the transaction, the director now directly owns 1,607 shares of the company’s stock, valued at approximately $498,282.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Axon Enterprise news, President Joshua Isner sold 44,000 shares of Axon Enterprise stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $309.96, for a total value of $13,638,240.00. Following the transaction, the president now directly owns 275,843 shares of the company’s stock, valued at approximately $85,500,296.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeri Williams sold 308 shares of Axon Enterprise stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the transaction, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,447 shares of company stock valued at $27,684,677. Corporate insiders own 6.10% of the company’s stock.

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.