Raiffeisen Bank International AG Trims Stake in Axon Enterprise, Inc $AXON

Raiffeisen Bank International AG lessened its position in Axon Enterprise, Inc (NASDAQ:AXON) by 11.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,817 shares of the biotechnology company’s stock after selling 235 shares during the period. Raiffeisen Bank International AG’s holdings in Axon Enterprise were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Axon Enterprise in the first quarter worth about $264,796,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Axon Enterprise during the second quarter valued at approximately $255,833,000. Westfield Capital Management Co. LP raised its holdings in shares of Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after buying an additional 212,931 shares during the period. Vanguard Group Inc. raised its holdings in shares of Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock worth $4,540,005,000 after buying an additional 185,571 shares during the period. Finally, Axiom Investors LLC DE bought a new stake in shares of Axon Enterprise during the 1st quarter worth approximately $93,088,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axon Enterprise

In related news, CFO Brittany Bagley sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $610.00, for a total value of $1,525,000.00. Following the completion of the transaction, the chief financial officer owned 91,092 shares of the company’s stock, valued at $55,566,120. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeri Williams sold 100 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total value of $75,254.00. Following the sale, the director owned 1,416 shares of the company’s stock, valued at approximately $1,065,596.64. This represents a 6.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 38,622 shares of company stock worth $26,439,364. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AXON has been the topic of several research analyst reports. Piper Sandler cut their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. JMP Securities reissued a “market outperform” rating and set a $825.00 target price on shares of Axon Enterprise in a research note on Monday, September 29th. The Goldman Sachs Group cut their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $870.00 price objective on shares of Axon Enterprise in a report on Wednesday, September 24th. Finally, Royal Bank Of Canada assumed coverage on shares of Axon Enterprise in a research report on Monday. They issued an “outperform” rating and a $860.00 price objective for the company. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $814.00.

Axon Enterprise Price Performance

AXON opened at $533.77 on Wednesday. The company has a market capitalization of $42.12 billion, a price-to-earnings ratio of 131.80, a PEG ratio of 29.49 and a beta of 1.45. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 12-month low of $469.24 and a 12-month high of $885.91. The business’s fifty day simple moving average is $694.97 and its 200-day simple moving average is $734.66.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $710.64 million during the quarter, compared to the consensus estimate of $704.83 million. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The business’s revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Company 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.