Fernwood Investment Management LLC lessened its stake in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 20.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,750 shares of the industrial products company’s stock after selling 5,500 shares during the period. Fernwood Investment Management LLC’s holdings in Axon Enterprise were worth $1,397,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in AAXN. Conestoga Capital Advisors LLC acquired a new position in shares of Axon Enterprise during the 1st quarter valued at $42,758,000. Norges Bank acquired a new position in shares of Axon Enterprise during the 4th quarter valued at $23,529,000. Janus Henderson Group PLC lifted its position in shares of Axon Enterprise by 13.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,501,104 shares of the industrial products company’s stock valued at $244,905,000 after acquiring an additional 520,055 shares during the period. Victory Capital Management Inc. lifted its position in shares of Axon Enterprise by 25.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,002,232 shares of the industrial products company’s stock valued at $54,531,000 after acquiring an additional 205,000 shares during the period. Finally, FMR LLC lifted its position in shares of Axon Enterprise by 25,672.5% during the 1st quarter. FMR LLC now owns 135,821 shares of the industrial products company’s stock valued at $7,390,000 after acquiring an additional 135,294 shares during the period. Institutional investors own 77.56% of the company’s stock.
AAXN has been the topic of several research reports. Needham & Company LLC downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Imperial Capital upgraded shares of Axon Enterprise from an “in-line” rating to an “outperform” rating and set a $68.00 price objective on the stock in a report on Wednesday. ValuEngine downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Morgan Stanley upped their price objective on shares of Axon Enterprise from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Zacks Investment Research downgraded shares of Axon Enterprise from a “buy” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.22.
Axon Enterprise (NASDAQ:AAXN) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.05). The firm had revenue of $112.36 million during the quarter, compared to analysts’ expectations of $115.41 million. Axon Enterprise had a net margin of 3.34% and a return on equity of 3.23%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, sell-side analysts predict that Axon Enterprise Inc will post 0.52 earnings per share for the current year.
In other news, President Luke Larson sold 15,383 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $67.11, for a total value of $1,032,353.13. Following the completion of the sale, the president now owns 56,774 shares in the company, valued at $3,810,103.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $66.65, for a total transaction of $66,650.00. Following the completion of the sale, the director now owns 32,657 shares of the company’s stock, valued at approximately $2,176,589.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,383 shares of company stock valued at $4,603,003. 2.30% of the stock is currently owned by corporate insiders.
Axon Enterprise Company Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.
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