Bessemer Group Inc. Has $118.57 Million Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Bessemer Group Inc. reduced its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,957 shares of the biotechnology company’s stock after selling 39,316 shares during the period. Bessemer Group Inc. owned about 0.50% of Axon Enterprise worth $118,569,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Axon Enterprise in the fourth quarter worth approximately $195,406,000. Motley Fool Asset Management LLC boosted its stake in shares of Axon Enterprise by 238.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after buying an additional 346,838 shares during the period. Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after buying an additional 212,401 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Axon Enterprise in the fourth quarter worth $39,907,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Axon Enterprise by 110.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 276,011 shares of the biotechnology company’s stock worth $71,302,000 after acquiring an additional 144,568 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $6.44 during trading hours on Wednesday, reaching $313.11. 450,446 shares of the company’s stock were exchanged, compared to its average volume of 490,429. Axon Enterprise, Inc. has a fifty-two week low of $175.37 and a fifty-two week high of $329.87. The company has a quick ratio of 2.55, a current ratio of 2.91 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $23.63 billion, a P/E ratio of 91.55, a P/E/G ratio of 7.14 and a beta of 0.95. The business has a fifty day moving average price of $293.65 and a 200-day moving average price of $291.18.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Friday, May 10th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. The firm had revenue of $460.74 million during the quarter, compared to the consensus estimate of $441.57 million. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. The business’s revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Analysts predict that Axon Enterprise, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXON. Morgan Stanley boosted their target price on 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 increased their price objective on Axon Enterprise from $308.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. JMP Securities reiterated a “market outperform” rating and issued a $375.00 target price 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 report on Wednesday, April 24th. Finally, Bank of America started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.54.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 308 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $310.07, for a total transaction of $95,501.56. Following the sale, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Axon Enterprise news, Director Julie A. Cullivan sold 993 shares of the firm’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 completion of the transaction, the director now owns 4,553 shares in the company, valued at $1,282,671.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeri Williams sold 308 shares of Axon Enterprise stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $310.07, for a total value of $95,501.56. Following the sale, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,447 shares of company stock worth $27,684,677. 6.10% of the stock is currently owned by company insiders.

Axon Enterprise Company 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.