Vestor Capital LLC Reduces Stake in Axon Enterprise, Inc $AXON

Vestor Capital LLC lowered its position in Axon Enterprise, Inc (NASDAQ:AXON) by 99.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144 shares of the biotechnology company’s stock after selling 37,879 shares during the period. Vestor Capital LLC’s holdings in Axon Enterprise were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AXON. Darwin Wealth Management LLC purchased a new position in Axon Enterprise in the second quarter worth about $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise during the 4th quarter valued at about $28,000. Sound Income Strategies LLC increased 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 purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at about $30,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Axon Enterprise in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Up 0.5%

AXON stock opened at $527.76 on Friday. The business’s 50-day moving average price is $497.09 and its 200-day moving average price is $476.61. The stock has a market cap of $42.54 billion, a P/E ratio of 211.95, a PEG ratio of 10.77 and a beta of 1.38. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) 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 company had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. During the same period in the prior year, the firm posted $1.47 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities research analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on AXON. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a report on Thursday, May 7th. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. UBS Group dropped their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $725.25.

Insiders Place Their Bets

In other news, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the transaction, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This trade represents a 2.44% 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. Over the last quarter, insiders sold 58,989 shares of company stock valued at $30,527,983. Insiders own 4.20% of the company’s stock.

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.