Granahan Investment Management LLC Has $43 Million Stake in Axon Enterprise, Inc $AXON

Granahan Investment Management LLC decreased its position in Axon Enterprise, Inc (NASDAQ:AXON) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,714 shares of the biotechnology company’s stock after selling 1,737 shares during the period. Axon Enterprise makes up 1.8% of Granahan Investment Management LLC’s holdings, making the stock its 15th biggest holding. Granahan Investment Management LLC owned about 0.10% of Axon Enterprise worth $43,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise during the 4th quarter valued at $28,000. New Millennium Group LLC acquired a new position in shares of Axon Enterprise during the 3rd quarter valued at $29,000. Sound Income Strategies LLC lifted its position in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at $30,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $435.39 on Wednesday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The firm has a market cap of $35.09 billion, a price-to-earnings ratio of 174.86, a PEG ratio of 8.06 and a beta of 1.45. The company has a fifty day moving average price of $411.40 and a 200-day moving average price of $487.65.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. As a group, equities research analysts predict that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citizens Jmp dropped their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 7th. Citigroup restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada lowered their price objective on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Insider Activity at Axon Enterprise

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total transaction of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,989 shares of company stock valued at $19,090,083 in the last 90 days. 4.20% of the stock is currently owned by company 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.