Granahan Investment Management LLC trimmed its position in Axon Enterprise, Inc. (NASDAQ:AXON – Get Rating) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 711,756 shares of the biotechnology company’s stock after selling 194,068 shares during the period. Axon Enterprise comprises about 3.6% of Granahan Investment Management LLC’s investment portfolio, making the stock its largest position. Granahan Investment Management LLC owned about 1.00% of Axon Enterprise worth $118,102,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at approximately $347,000. Meritage Portfolio Management purchased a new stake in Axon Enterprise in the 4th quarter worth about $249,000. American Trust grew its stake in Axon Enterprise by 4.8% in the third quarter. American Trust now owns 4,400 shares of the biotechnology company’s stock valued at $509,000 after purchasing an additional 200 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Axon Enterprise by 32.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 32,121 shares of the biotechnology company’s stock worth $5,329,000 after acquiring an additional 7,780 shares in the last quarter. Finally, Huntington National Bank increased its position in Axon Enterprise by 124.0% during the fourth quarter. Huntington National Bank now owns 1,230 shares of the biotechnology company’s stock worth $204,000 after buying an additional 681 shares during the last quarter. Institutional investors and hedge funds own 75.62% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on AXON. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Axon Enterprise in a research note on Thursday, April 13th. The Goldman Sachs Group started coverage on Axon Enterprise in a research report on Tuesday, March 7th. They issued a “buy” rating and a $263.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $235.00 price target on shares of Axon Enterprise in a research report on Friday, April 14th. StockNews.com began coverage on shares of Axon Enterprise in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised Axon Enterprise from a “neutral” rating to an “overweight” rating and set a $236.00 price target for the company in a report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $232.64.
Insider Activity
In other news, Director Julie A. Cullivan sold 1,180 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $196.00, for a total value of $231,280.00. Following the completion of the transaction, the director now owns 5,882 shares of the company’s stock, valued at $1,152,872. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Patrick W. Smith sold 39,119 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $215.81, for a total transaction of $8,442,271.39. Following the completion of the sale, the chief executive officer now directly owns 2,798,701 shares in the company, valued at $603,987,662.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julie A. Cullivan sold 1,180 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $196.00, for a total transaction of $231,280.00. Following the transaction, the director now directly owns 5,882 shares in the company, valued at approximately $1,152,872. The disclosure for this sale can be found here. In the last three months, insiders acquired 20,250 shares of company stock valued at $3,957,700 and sold 98,343 shares valued at $21,267,844. Company insiders own 6.10% of the company’s stock.
Axon Enterprise Stock Performance
Axon Enterprise stock traded up $0.08 during mid-day trading on Friday, reaching $194.82. 425,504 shares of the company were exchanged, compared to its average volume of 982,084. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.97 and a current ratio of 3.33. The firm’s 50-day simple moving average is $205.76 and its two-hundred day simple moving average is $199.23. Axon Enterprise, Inc. has a twelve month low of $83.01 and a twelve month high of $229.95. The firm has a market cap of $14.40 billion, a PE ratio of 103.69 and a beta of 0.92.
Axon Enterprise (NASDAQ:AXON – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.48. The firm had revenue of $343.04 million during the quarter, compared to analysts’ expectations of $312.07 million. Axon Enterprise had a return on equity of 10.65% and a net margin of 10.76%. Equities analysts predict that Axon Enterprise, Inc. will post 1.59 earnings per share for the current fiscal year.
Axon Enterprise Company Profile
Axon Enterprise, Inc engages in the development, manufacture, and sale of conducted electrical weapons for personal defense. It operates through the TASER segment and Software and Sensors segment. The TASER segment sells conducted electrical weapons, accessories, and other related products and services.
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