Baillie Gifford & Co. Trims Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Baillie Gifford & Co. lessened its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,737 shares of the biotechnology company’s stock after selling 12,107 shares during the quarter. Baillie Gifford & Co. owned 0.42% of Axon Enterprise worth $98,475,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its holdings in Axon Enterprise by 50.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,623 shares of the biotechnology company’s stock worth $508,000 after buying an additional 543 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at $512,000. HB Wealth Management LLC boosted its holdings in Axon Enterprise by 6.1% in the first quarter. HB Wealth Management LLC now owns 1,209 shares of the biotechnology company’s stock valued at $378,000 after purchasing an additional 70 shares during the period. SpiderRock Advisors LLC acquired a new position in Axon Enterprise during the 1st quarter worth $699,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Axon Enterprise by 50,800.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 509 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 508 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In other news, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $281.72, for a total transaction of $279,747.96. Following the completion of the sale, the director now owns 4,553 shares in the company, valued at $1,282,671.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Julie A. Cullivan sold 993 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $281.72, for a total transaction of $279,747.96. Following the transaction, the director now directly owns 4,553 shares in the company, valued at $1,282,671.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeri Williams sold 308 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $310.07, for a total transaction of $95,501.56. Following the completion of the sale, the director now owns 1,607 shares of the company’s stock, valued at approximately $498,282.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,447 shares of company stock worth $27,684,677. 5.70% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

NASDAQ AXON traded up $1.82 on Friday, reaching $298.38. The stock had a trading volume of 174,432 shares, compared to its average volume of 422,671. 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 stock has a market cap of $22.52 billion, a P/E ratio of 87.25 and a beta of 0.95. The business’s 50-day moving average price is $294.48 and its 200 day moving average price is $286.22. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. The company had revenue of $460.74 million for the quarter, compared to analyst estimates of $441.57 million. During the same period in the previous year, the business posted $0.51 earnings per share. Axon Enterprise’s quarterly revenue was up 34.3% on a year-over-year basis. As a group, equities analysts expect that Axon Enterprise, Inc. will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AXON. JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. JMP Securities reissued a “market outperform” rating and issued a $375.00 price objective on shares of Axon Enterprise in a research report on Tuesday, May 7th. StockNews.com cut shares of Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. 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, Argus initiated coverage on Axon Enterprise in a report on Wednesday, March 13th. They set a “buy” rating and a $380.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $335.27.

About Axon Enterprise

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.