Sei Investments Co. Sells 133,326 Shares of Axon Enterprise, Inc $AXON

Sei Investments Co. trimmed its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 53.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,856 shares of the biotechnology company’s stock after selling 133,326 shares during the quarter. Sei Investments Co.’s holdings in Axon Enterprise were worth $48,774,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise in the 4th quarter valued at about $28,000. Sound Income Strategies LLC grew its holdings in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth about $30,000. AlphaCentric Advisors LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth about $34,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth approximately $35,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Price Performance

AXON stock opened at $502.34 on Friday. The firm has a market cap of $40.49 billion, a P/E ratio of 201.74, a P/E/G ratio of 10.25 and a beta of 1.38. The firm’s fifty day moving average is $483.26 and its 200 day moving average is $479.59. 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.

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, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares in the company, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AXON has been the topic of a number of research analyst reports. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. The Goldman Sachs Group set a $535.00 price objective on shares of Axon Enterprise in a report on Thursday, May 7th. Barclays cut their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $725.25.

About Axon Enterprise

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.