Intech Investment Management LLC Trims Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Intech Investment Management LLC lessened its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 28.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,234 shares of the biotechnology company’s stock after selling 11,437 shares during the period. Intech Investment Management LLC’s holdings in Axon Enterprise were worth $8,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its position in shares of Axon Enterprise by 0.8% in the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after buying an additional 40 shares during the last quarter. Brookstone Capital Management raised its position in shares of Axon Enterprise by 5.1% in the first quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 41 shares during the last quarter. CWM LLC raised its position in shares of Axon Enterprise by 1.5% in the second quarter. CWM LLC now owns 2,820 shares of the biotechnology company’s stock valued at $830,000 after buying an additional 43 shares during the last quarter. Wealthspan Partners LLC raised its position in shares of Axon Enterprise by 4.9% in the second quarter. Wealthspan Partners LLC now owns 965 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 45 shares during the last quarter. Finally, Burns Matteson Capital Management LLC raised its position in shares of Axon Enterprise by 6.7% in the second quarter. Burns Matteson Capital Management LLC now owns 730 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXON. Barclays upped their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Axon Enterprise in a research report on Wednesday, August 7th. Robert W. Baird upped their price target on shares of Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target for the company. Finally, Northland Securities upped their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.38.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the transaction, the president now directly owns 228,166 shares in the company, valued at approximately $82,103,253.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Axon Enterprise news, President Joshua Isner sold 25,811 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the sale, the president now directly owns 228,166 shares of the company’s stock, valued at $82,103,253.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $380.99, for a total transaction of $380,990.00. Following the sale, the director now directly owns 27,259 shares in the company, valued at $10,385,406.41. The disclosure for this sale can be found here. Insiders have sold 317,981 shares of company stock worth $115,662,734 in the last ninety days. 6.10% of the stock is owned by insiders.

Axon Enterprise Price Performance

Shares of AXON stock opened at $393.29 on Friday. Axon Enterprise, Inc. has a twelve month low of $189.12 and a twelve month high of $393.58. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $29.72 billion, a PE ratio of 115.00, a price-to-earnings-growth ratio of 10.34 and a beta of 0.94. The firm has a fifty day simple moving average of $348.04 and a 200-day simple moving average of $317.21.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The firm had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. During the same period in the prior year, the firm posted $0.80 EPS. The firm’s revenue was up 34.5% compared to the same quarter last year. Equities research analysts anticipate that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal 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.