Axon Enterprise, Inc $AXON Stake Lessened by Evolutionary Tree Capital Management LLC

Evolutionary Tree Capital Management LLC lowered its position in Axon Enterprise, Inc (NASDAQ:AXON) by 27.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,890 shares of the biotechnology company’s stock after selling 1,811 shares during the quarter. Axon Enterprise accounts for about 3.9% of Evolutionary Tree Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Evolutionary Tree Capital Management LLC’s holdings in Axon Enterprise were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Arkadios Wealth Advisors boosted its position in Axon Enterprise by 3.5% in the first quarter. Arkadios Wealth Advisors now owns 3,792 shares of the biotechnology company’s stock worth $1,610,000 after purchasing an additional 127 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Axon Enterprise by 10.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the biotechnology company’s stock valued at $737,000 after purchasing an additional 162 shares during the period. Empowered Funds LLC increased its position in shares of Axon Enterprise by 90.1% during the 1st quarter. Empowered Funds LLC now owns 6,320 shares of the biotechnology company’s stock valued at $2,684,000 after purchasing an additional 2,996 shares during the last quarter. Evelyn Partners Investment Management LLP increased its position in shares of Axon Enterprise by 42.6% during the 1st quarter. Evelyn Partners Investment Management LLP now owns 1,550 shares of the biotechnology company’s stock valued at $658,000 after purchasing an additional 463 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd lifted its stake in shares of Axon Enterprise by 18.6% in the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 862 shares of the biotechnology company’s stock worth $366,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Up 0.5%

Shares of Axon Enterprise stock opened at $527.76 on Friday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market capitalization of $42.54 billion, a P/E ratio of 211.95, a P/E/G ratio of 10.72 and a beta of 1.38. The company has a fifty day moving average of $497.09 and a 200 day moving average of $476.61.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same period last year, the firm earned $1.47 earnings per share. The business’s quarterly revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the sale, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AXON shares. JPMorgan Chase & Co. raised their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays reduced their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Needham & Company LLC increased their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $725.25.

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.