Axon Enterprise, Inc $AXON Stock Position Cut by Royal Bank of Canada

Royal Bank of Canada decreased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 19.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 252,717 shares of the biotechnology company’s stock after selling 59,470 shares during the period. Royal Bank of Canada’s holdings in Axon Enterprise were worth $107,326,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in shares of Axon Enterprise by 90.1% in the first quarter. Empowered Funds LLC now owns 6,320 shares of the biotechnology company’s stock valued at $2,684,000 after acquiring an additional 2,996 shares in the last quarter. Evelyn Partners Investment Management LLP lifted its position in Axon Enterprise by 42.6% in the first quarter. Evelyn Partners Investment Management LLP now owns 1,550 shares of the biotechnology company’s stock worth $658,000 after purchasing an additional 463 shares during the period. Evelyn Partners Investment Management Services Ltd lifted its position in Axon Enterprise by 18.6% in the first 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. Ashford Capital Management Inc. boosted its stake in Axon Enterprise by 6.0% during the 1st quarter. Ashford Capital Management Inc. now owns 30,955 shares of the biotechnology company’s stock valued at $13,146,000 after purchasing an additional 1,756 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Axon Enterprise by 9.3% during the 1st quarter. Quantinno Capital Management LP now owns 36,703 shares of the biotechnology company’s stock valued at $15,588,000 after purchasing an additional 3,123 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive owned 49,710 shares in the company, valued at $24,855,000. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 58,989 shares of company stock valued at $30,527,983. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Up 0.5%

Shares of NASDAQ AXON opened at $527.76 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The company has a market cap of $42.54 billion, a price-to-earnings ratio of 211.95, a P/E/G ratio of 10.72 and a beta of 1.38. The business has a fifty day simple moving average of $497.09 and a 200-day simple moving average of $476.61.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the previous year, the company earned $1.47 EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. Sell-side analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AXON shares. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Needham & Company LLC raised their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Citizens Jmp reissued a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $725.25.

About Axon Enterprise

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.