Handelsbanken Fonder AB Sells 6,130 Shares of Axon Enterprise, Inc $AXON

Handelsbanken Fonder AB cut its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 9.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 59,460 shares of the biotechnology company’s stock after selling 6,130 shares during the period. Handelsbanken Fonder AB’s holdings in Axon Enterprise were worth $33,769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC boosted its stake in Axon Enterprise by 34.2% during the fourth quarter. TimesSquare Capital Management LLC now owns 165,530 shares of the biotechnology company’s stock valued at $94,009,000 after buying an additional 42,226 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in Axon Enterprise by 17.8% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 122,358 shares of the biotechnology company’s stock valued at $69,988,000 after buying an additional 18,506 shares during the last quarter. AF Advisors Inc. bought a new position in Axon Enterprise during the fourth quarter valued at approximately $302,000. Profund Advisors LLC raised its position in Axon Enterprise by 6.1% during the fourth quarter. Profund Advisors LLC now owns 6,989 shares of the biotechnology company’s stock valued at $3,969,000 after purchasing an additional 403 shares during the period. Finally, ProShare Advisors LLC raised its position in Axon Enterprise by 38.4% during the fourth quarter. ProShare Advisors LLC now owns 137,521 shares of the biotechnology company’s stock valued at $78,102,000 after purchasing an additional 38,183 shares during the period. 79.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AXON shares. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Robert W. Baird set a $800.00 price objective on Axon Enterprise in a research report on Wednesday, February 25th. Wall Street Zen upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Royal Bank Of Canada decreased their price objective on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Weiss Ratings upgraded Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 1,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Erika Nardini sold 198 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total value of $100,302.84. Following the transaction, the director owned 1,946 shares in the company, valued at $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,855 shares of company stock worth $7,109,828 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON stock opened at $392.34 on Wednesday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The firm has a market capitalization of $31.62 billion, a P/E ratio of 157.57, a P/E/G ratio of 9.39 and a beta of 1.44. The stock has a 50 day moving average price of $425.17 and a 200 day moving average price of $508.74.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. During the same period last year, the company earned $1.47 EPS. Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 1.41 earnings per share for the current 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.