Handelsinvest Investeringsforvaltning Trims Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Handelsinvest Investeringsforvaltning trimmed its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 34.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,515 shares of the biotechnology company’s stock after selling 787 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Axon Enterprise were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXON. ING Groep NV increased its position in shares of Axon Enterprise by 9.3% during the 4th quarter. ING Groep NV now owns 9,643 shares of the biotechnology company’s stock valued at $2,491,000 after purchasing an additional 821 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Axon Enterprise by 18.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 104,587 shares of the biotechnology company’s stock valued at $27,019,000 after purchasing an additional 16,230 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Axon Enterprise during the 4th quarter valued at about $32,000. Apollon Wealth Management LLC bought a new position in shares of Axon Enterprise during the 4th quarter valued at about $234,000. Finally, Cim LLC bought a new position in shares of Axon Enterprise during the 4th quarter valued at about $1,409,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Up 0.8 %

Shares of AXON traded up $2.39 on Wednesday, reaching $295.57. The stock had a trading volume of 9,857 shares, compared to its average volume of 490,701. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 85.73 and a beta of 0.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.55 and a current ratio of 2.91. The company has a 50-day simple moving average of $294.99 and a 200-day simple moving average of $285.77. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Friday, May 10th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. The company had revenue of $460.74 million during the quarter, compared to analyst estimates of $441.57 million. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise, Inc. will post 2.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Jeri Williams sold 308 shares of Axon Enterprise stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $310.07, for a total transaction of $95,501.56. Following the transaction, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeri Williams sold 308 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $310.07, for a total value of $95,501.56. Following the transaction, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua Isner sold 44,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $309.96, for a total value of $13,638,240.00. Following the completion of the transaction, the president now owns 275,843 shares in the company, valued at $85,500,296.28. The disclosure for this sale can be found here. Insiders sold 89,447 shares of company stock valued at $27,684,677 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. JMP Securities restated a “market outperform” rating and set a $375.00 target price on shares of Axon Enterprise in a report on Tuesday, May 7th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Axon Enterprise in a report on Tuesday, May 7th. Craig Hallum increased their target price on Axon Enterprise from $325.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Barclays increased their target price on Axon Enterprise from $308.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and an average target price of $335.27.

Axon Enterprise Profile

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.