Mercer Global Advisors Inc. ADV Lowers Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Mercer Global Advisors Inc. ADV lowered its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,707 shares of the biotechnology company’s stock after selling 393 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Axon Enterprise were worth $1,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AXON. Motley Fool Asset Management LLC raised its stake in 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 worth $153,981,000 after acquiring an additional 346,838 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Axon Enterprise during the 1st quarter valued at $81,630,000. Vanguard Group Inc. lifted 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Axon Enterprise by 110.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 276,011 shares of the biotechnology company’s stock worth $71,302,000 after buying an additional 144,568 shares in the last quarter. Finally, Swedbank AB bought a new stake in Axon Enterprise during the first quarter valued at about $39,923,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $393.66 on Wednesday. The stock’s fifty day moving average is $351.23 and its 200 day moving average is $318.36. Axon Enterprise, Inc. has a fifty-two week low of $189.12 and a fifty-two week high of $397.32. The firm has a market capitalization of $29.71 billion, a PE ratio of 115.11, a PEG ratio of 10.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. During the same quarter in the prior year, the firm posted $0.80 EPS. Axon Enterprise’s quarterly revenue was up 34.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 70,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $362.21, for a total value of $25,354,700.00. Following the completion of the sale, the chief executive officer now owns 2,945,366 shares in the company, valued at approximately $1,066,841,018.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 317,981 shares of company stock worth $115,662,734. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AXON shares. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Axon Enterprise in a research report on Wednesday, August 7th. JMP Securities lifted their price objective on shares of Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Jefferies Financial Group initiated coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 target price for the company. Northland Securities lifted their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Robert W. Baird increased their price objective on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.38.

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.