Mediolanum International Funds Ltd Sells 9,792 Shares of Axon Enterprise, Inc $AXON

Mediolanum International Funds Ltd reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 75.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,175 shares of the biotechnology company’s stock after selling 9,792 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Axon Enterprise were worth $2,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC acquired a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $29,000. Hemington Wealth Management grew its holdings in shares of Axon Enterprise by 70.8% during the second quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after buying an additional 17 shares in the last quarter. Whipplewood Advisors LLC raised its position in Axon Enterprise by 192.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 27 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Axon Enterprise in the 2nd quarter valued at approximately $37,000. Finally, Root Financial Partners LLC bought a new stake in Axon Enterprise in the 3rd quarter valued at approximately $34,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $451.29 on Wednesday. Axon Enterprise, Inc has a 12-month low of $434.62 and a 12-month high of $885.91. The firm has a market capitalization of $35.61 billion, a price-to-earnings ratio of 142.81, a P/E/G ratio of 13.86 and a beta of 1.48. The stock’s 50 day moving average price is $575.49 and its two-hundred day moving average price is $664.42. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same period in the prior year, the business earned $1.45 EPS. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. On average, analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the completion of the sale, the president directly owned 249,502 shares in the company, valued at $137,874,805.20. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brittany Bagley sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $610.00, for a total value of $1,525,000.00. Following the completion of the transaction, the chief financial officer directly owned 91,092 shares in the company, valued at $55,566,120. The trade was a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 60,540 shares of company stock valued at $34,684,738. 5.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXON. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Barclays cut their price target on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Royal Bank Of Canada initiated coverage on Axon Enterprise in a report on Monday, November 17th. They issued an “outperform” rating and a $860.00 price objective for the company. UBS Group lowered their target price on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a research report on Tuesday, January 6th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

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.