Axon Enterprise Inc (AAXN) Position Trimmed by Primecap Management Co. CA

Primecap Management Co. CA lessened its holdings in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 527,000 shares of the industrial products company’s stock after selling 45,000 shares during the period. Primecap Management Co. CA owned approximately 0.90% of Axon Enterprise worth $36,063,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in Axon Enterprise by 7.8% during the second quarter. Rhumbline Advisers now owns 137,090 shares of the industrial products company’s stock worth $8,661,000 after acquiring an additional 9,951 shares during the period. Zacks Investment Management acquired a new position in Axon Enterprise during the second quarter worth $238,000. Northern Trust Corp grew its holdings in Axon Enterprise by 4.2% during the second quarter. Northern Trust Corp now owns 707,874 shares of the industrial products company’s stock worth $44,722,000 after acquiring an additional 28,324 shares during the period. Strs Ohio acquired a new position in Axon Enterprise during the second quarter worth $341,000. Finally, Sei Investments Co. acquired a new position in Axon Enterprise during the second quarter worth $1,478,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

AAXN opened at $44.13 on Monday. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 163.43, a PEG ratio of 3.33 and a beta of 0.98. Axon Enterprise Inc has a one year low of $23.82 and a one year high of $76.45.

Axon Enterprise (NASDAQ:AAXN) last posted its earnings results on Tuesday, November 6th. The industrial products company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.05. The company had revenue of $104.84 million for the quarter, compared to the consensus estimate of $103.06 million. Axon Enterprise had a return on equity of 10.74% and a net margin of 6.26%. Axon Enterprise’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share. As a group, equities analysts predict that Axon Enterprise Inc will post 0.52 EPS for the current year.

In other news, insider Douglas E. Klint sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $69.82, for a total value of $1,745,500.00. Following the sale, the insider now directly owns 104,341 shares in the company, valued at $7,285,088.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jawad A. Ahsan acquired 2,000 shares of Axon Enterprise stock in a transaction dated Monday, November 12th. The stock was bought at an average price of $49.73 per share, for a total transaction of $99,460.00. Following the completion of the transaction, the chief financial officer now directly owns 71,156 shares of the company’s stock, valued at $3,538,587.88. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 31,100 shares of company stock worth $2,015,035. 3.50% of the stock is owned by company insiders.

A number of brokerages recently weighed in on AAXN. Craig Hallum lowered Axon Enterprise from a “buy” rating to a “hold” rating and upped their price objective for the stock from $55.00 to $62.00 in a report on Wednesday, August 8th. They noted that the move was a valuation call. Raymond James began coverage on Axon Enterprise in a report on Friday, September 14th. They set an “outperform” rating and a $79.00 price objective on the stock. JPMorgan Chase & Co. raised Axon Enterprise from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $66.00 to $68.00 in a report on Thursday, November 8th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $77.00 price objective on shares of Axon Enterprise in a report on Wednesday, August 8th. Finally, Northcoast Research began coverage on Axon Enterprise in a report on Tuesday, October 2nd. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.82.

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About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

Further Reading: What is insider trading?

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Institutional Ownership by Quarter for Axon Enterprise (NASDAQ:AAXN)

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