Axon Enterprise, Inc $AXON Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 34.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,418 shares of the biotechnology company’s stock after selling 38,928 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Axon Enterprise worth $52,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. raised its position in shares of Axon Enterprise by 2.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock valued at $421,000 after buying an additional 14 shares during the period. Vicus Capital increased its stake in Axon Enterprise by 3.7% during the third quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock worth $284,000 after acquiring an additional 14 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Axon Enterprise by 3.8% during the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 15 shares during the last quarter. Blue Trust Inc. raised its position in Axon Enterprise by 2.5% in the third quarter. Blue Trust Inc. now owns 645 shares of the biotechnology company’s stock valued at $463,000 after purchasing an additional 16 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its stake in shares of Axon Enterprise by 5.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 313 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 16 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AXON shares. Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Piper Sandler lowered their target price on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Finally, Needham & Company LLC decreased their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $762.93.

Axon Enterprise Price Performance

AXON opened at $499.40 on Friday. The stock’s 50-day moving average price is $532.43 and its 200 day moving average price is $612.29. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The firm has a market cap of $40.15 billion, a price-to-earnings ratio of 328.55, a PEG ratio of 11.05 and a beta of 1.46.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.55. The company had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.Axon Enterprise’s revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the sale, the insider directly owned 55,588 shares in the company, valued at $29,740,135.88. This represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer H. Mak sold 1,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the sale, the chief accounting officer owned 12,240 shares in the company, valued at approximately $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 24,634 shares of company stock valued at $13,803,095. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise 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.