Wellington Management Group LLP Sells 314,974 Shares of Axon Enterprise, Inc $AXON

Wellington Management Group LLP cut its position in Axon Enterprise, Inc (NASDAQ:AXON) by 13.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,103,142 shares of the biotechnology company’s stock after selling 314,974 shares during the quarter. Wellington Management Group LLP’s holdings in Axon Enterprise were worth $1,179,042,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new position in shares of Axon Enterprise during the second quarter worth about $37,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Axon Enterprise during the 2nd quarter worth $31,000. AlphaCentric Advisors LLC purchased a new position in Axon Enterprise in the fourth quarter worth $34,000. Finally, Strive Financial Group LLC bought a new position in Axon Enterprise in the fourth quarter valued at $41,000. 79.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXON has been the topic of a number of research reports. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Morgan Stanley upped their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Trading Down 1.7%

NASDAQ:AXON opened at $600.73 on Friday. The company has a 50-day moving average price of $560.75 and a 200-day moving average price of $482.99. The stock has a market cap of $48.80 billion, a price-to-earnings ratio of 249.27, a P/E/G ratio of 9.92 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 earnings per share. Equities analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 9,930 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the sale, the chief executive officer directly owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,594 shares of company stock valued at $41,236,386 over the last ninety days. Insiders own 4.20% of the company’s stock.

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.