Patton Fund Management Inc. Decreases Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Patton Fund Management Inc. trimmed its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,624 shares of the biotechnology company's stock after selling 2,845 shares during the quarter. Axon Enterprise makes up 1.2% of Patton Fund Management Inc.'s investment portfolio, making the stock its 21st largest position. Patton Fund Management Inc.'s holdings in Axon Enterprise were worth $5,062,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Axon Enterprise by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company's stock valued at $5,019,886,000 after buying an additional 275,959 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock valued at $1,095,542,000 after acquiring an additional 65,097 shares during the last quarter. Capital World Investors raised its position in shares of Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after acquiring an additional 841,772 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock worth $659,128,000 after acquiring an additional 812,337 shares in the last quarter. Finally, Norges Bank purchased a new stake in Axon Enterprise during the fourth quarter worth approximately $482,081,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group boosted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Bank of America upped their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Needham & Company LLC lifted their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $699.55.

Insiders Place Their Bets

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $771.81, for a total transaction of $57,885.75. Following the transaction, the chief accounting officer now owns 15,240 shares in the company, valued at approximately $11,762,384.40. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Joshua Isner sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $776.39, for a total value of $702,632.95. Following the completion of the sale, the president now directly owns 268,735 shares of the company's stock, valued at $208,643,166.65. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is owned by insiders.

Axon Enterprise Stock Performance

AXON stock traded down $6.75 during trading on Wednesday, hitting $770.79. The company had a trading volume of 482,785 shares, compared to its average volume of 506,310. The firm has a 50-day moving average price of $683.57 and a 200-day moving average price of $624.47. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. The firm has a market cap of $60.01 billion, a PE ratio of 186.18, a price-to-earnings-growth ratio of 89.50 and a beta of 1.29. Axon Enterprise, Inc has a 1-year low of $279.02 and a 1-year high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company's revenue for the quarter was up 31.3% compared to the same quarter last year. On average, analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

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.