ClariVest Asset Management LLC Trims Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

ClariVest Asset Management LLC lessened its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 0.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,003 shares of the biotechnology company’s stock after selling 80 shares during the quarter. ClariVest Asset Management LLC’s holdings in Axon Enterprise were worth $2,817,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Lisanti Capital Growth LLC raised its position in Axon Enterprise by 10.1% in the 1st quarter. Lisanti Capital Growth LLC now owns 5,050 shares of the biotechnology company’s stock valued at $1,580,000 after purchasing an additional 465 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Axon Enterprise by 5.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,802 shares of the biotechnology company’s stock valued at $1,190,000 after purchasing an additional 183 shares during the last quarter. Empowered Funds LLC purchased a new stake in Axon Enterprise in the 1st quarter valued at $340,000. Quantbot Technologies LP purchased a new stake in Axon Enterprise in the 1st quarter valued at $3,735,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in Axon Enterprise by 11.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,468 shares of the biotechnology company’s stock valued at $1,398,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Axon Enterprise in a research note on Tuesday, May 7th. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research note on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Barclays boosted their price objective on shares of Axon Enterprise from $308.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Craig Hallum boosted their price objective on shares of Axon Enterprise from $325.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $335.27.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded up $1.50 on Friday, reaching $292.66. 289,565 shares of the company were exchanged, compared to its average volume of 410,101. The company has a current ratio of 2.91, a quick ratio of 2.55 and a debt-to-equity ratio of 0.37. Axon Enterprise, Inc. has a 1-year low of $175.37 and a 1-year high of $329.87. The firm has a market cap of $22.09 billion, a price-to-earnings ratio of 85.57 and a beta of 0.95. The company has a 50-day moving average of $292.57 and a 200-day moving average of $287.78.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Friday, May 10th. The biotechnology company reported $1.15 earnings per share for the quarter, topping 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 business had revenue of $460.74 million for the quarter, compared to analysts’ expectations of $441.57 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. Equities analysts forecast that Axon Enterprise, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 sale, the president now directly owns 275,843 shares in the company, valued at approximately $85,500,296.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Axon Enterprise news, President Joshua Isner sold 44,000 shares of the company’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 transaction, the president now directly owns 275,843 shares in the company, valued at approximately $85,500,296.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeri Williams sold 308 shares of the company’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 transaction, the director now owns 1,607 shares in the company, valued at $498,282.49. The disclosure for this sale can be found here. Insiders have sold 89,447 shares of company stock worth $27,684,677 in the last three months. Corporate insiders own 6.10% of the company’s stock.

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.