Virtu Financial LLC Reduces Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Virtu Financial LLC cut its stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 35.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,759 shares of the biotechnology company's stock after selling 1,524 shares during the quarter. Virtu Financial LLC's holdings in Axon Enterprise were worth $812,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Axon Enterprise by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company's stock valued at $2,547,878,000 after acquiring an additional 212,401 shares during the last quarter. Sands Capital Management LLC lifted its stake in shares of Axon Enterprise by 0.6% in the 4th quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company's stock valued at $679,060,000 after purchasing an additional 16,347 shares during the last quarter. Norges Bank acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $195,406,000. Westfield Capital Management Co. LP grew its holdings in shares of Axon Enterprise by 5.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company's stock worth $189,025,000 after purchasing an additional 35,528 shares during the period. Finally, Motley Fool Asset Management LLC increased its position 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 worth $153,981,000 after purchasing an additional 346,838 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Up 0.9 %

Shares of AXON traded up $3.55 during midday trading on Friday, hitting $393.29. The company had a trading volume of 1,201,894 shares, compared to its average volume of 522,616. The company's 50-day simple moving average is $346.03 and its 200-day simple moving average is $316.70. 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, Inc. has a 1 year low of $189.12 and a 1 year high of $393.58. The firm has a market capitalization of $29.72 billion, a P/E ratio of 115.00, a P/E/G ratio of 10.34 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The firm's quarterly revenue was up 34.5% on a year-over-year basis. As a group, sell-side analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Insider Buying and Selling

In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total value of $318,177.00. Following the sale, the director now directly owns 3,653 shares in the company, valued at $1,291,445.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total value of $318,177.00. Following the transaction, the director now directly owns 3,653 shares in the company, valued at $1,291,445.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $380.99, for a total transaction of $380,990.00. Following the sale, the director now directly owns 27,259 shares in the company, valued at approximately $10,385,406.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 317,981 shares of company stock worth $115,662,734. Corporate insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AXON shares. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 7th. Craig Hallum lifted their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Robert W. Baird upped their price target on Axon Enterprise from $360.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Northland Securities raised their price target on Axon Enterprise from $330.00 to $365.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, Bank of America started coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a "buy" rating and a $380.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $365.38.

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.