Primecap Management Co. CA Cuts Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Primecap Management Co. CA cut its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 4.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,700 shares of the biotechnology company’s stock after selling 3,800 shares during the period. Primecap Management Co. CA owned approximately 0.12% of Axon Enterprise worth $26,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its stake in shares of Axon Enterprise by 0.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after purchasing an additional 40 shares during the last quarter. Brookstone Capital Management increased its position in Axon Enterprise by 5.1% during the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. CWM LLC increased its position in Axon Enterprise by 1.5% during the 2nd quarter. CWM LLC now owns 2,820 shares of the biotechnology company’s stock valued at $830,000 after buying an additional 43 shares in the last quarter. Wealthspan Partners LLC increased its position in Axon Enterprise by 4.9% during the 2nd quarter. Wealthspan Partners LLC now owns 965 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 45 shares in the last quarter. Finally, Burns Matteson Capital Management LLC increased its position in Axon Enterprise by 6.7% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 730 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 46 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AXON has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Axon Enterprise in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target on the stock. Barclays increased their target price on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Bank of America began coverage on Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $380.00 target price for the company. Finally, Robert W. Baird increased their price target on Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.38.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua Isner sold 25,811 shares of Axon Enterprise stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total value of $9,287,830.24. Following the sale, the president now owns 228,166 shares in the company, valued at approximately $82,103,253.44. The disclosure for this sale can be found here. Insiders have sold a total of 317,981 shares of company stock worth $115,662,734 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Axon Enterprise Trading Down 0.8 %

AXON opened at $382.57 on Wednesday. Axon Enterprise, Inc. has a 52 week low of $189.12 and a 52 week high of $386.54. The business has a fifty day simple moving average of $340.58 and a 200-day simple moving average of $315.24. The firm has a market cap of $28.87 billion, a P/E ratio of 111.86, a P/E/G ratio of 10.30 and a beta of 0.94. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The firm had revenue of $504.00 million during the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. Axon Enterprise’s revenue was up 34.5% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. On average, equities analysts expect that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

About Axon Enterprise

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.