Axon Enterprise, Inc (NASDAQ:AXON) Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC has reduced its holdings in Axon Enterprise, Inc by 6.7%, leaving them with 94,670 shares valued at approximately $49.8 million.
• Analysts have set new price targets for Axon Enterprise, with Needham & Company raising their target from $600 to $750, and several firms assigning "buy" ratings to the stock.
• Insider trading activity included notable sales of shares by executives, with total insider sales last quarter amounting to over $25 million.

LPL Financial LLC lessened its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,670 shares of the biotechnology company's stock after selling 6,761 shares during the period. LPL Financial LLC owned about 0.12% of Axon Enterprise worth $49,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinion Investment Advisors LLC grew its stake in shares of Axon Enterprise by 3.0% during the 1st quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock worth $341,000 after acquiring an additional 19 shares during the period. Kentucky Retirement Systems grew its stake in shares of Axon Enterprise by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after acquiring an additional 19 shares during the period. WCM Investment Management LLC grew its stake in shares of Axon Enterprise by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock worth $1,306,000 after acquiring an additional 19 shares during the period. HBK Sorce Advisory LLC grew its stake in shares of Axon Enterprise by 4.6% during the 1st quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company's stock worth $237,000 after acquiring an additional 20 shares during the period. Finally, Prudent Man Advisors LLC grew its stake in shares of Axon Enterprise by 1.6% during the 1st quarter. Prudent Man Advisors LLC now owns 1,298 shares of the biotechnology company's stock worth $683,000 after acquiring an additional 20 shares during the period. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Price Performance

NASDAQ AXON traded up $112.32 during trading hours on Tuesday, reaching $857.20. The company's stock had a trading volume of 1,683,998 shares, compared to its average volume of 703,142. The firm has a market capitalization of $66.73 billion, a price-to-earnings ratio of 207.05, a P/E/G ratio of 82.76 and a beta of 1.36. Axon Enterprise, Inc has a 1-year low of $286.19 and a 1-year high of $885.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The company's 50-day moving average is $764.81 and its two-hundred day moving average is $658.28.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The business had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The business's revenue was up 32.6% compared to the same quarter last year. On average, equities analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Buying and Selling

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the sale, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joshua Isner sold 905 shares of Axon Enterprise stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the sale, the president owned 268,735 shares in the company, valued at $208,643,166.65. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,642 shares of company stock valued at $25,090,528 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AXON shares. The Goldman Sachs Group increased their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Raymond James Financial raised their price target on Axon Enterprise from $645.00 to $855.00 and gave the company an "outperform" rating in a report on Tuesday. JMP Securities raised their price target on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, UBS Group boosted their target price on Axon Enterprise from $820.00 to $840.00 and gave the company a "neutral" rating in a research note on Tuesday. Two equities research 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, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $810.38.

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.