Axon Enterprise, Inc. (NASDAQ:AXON) is Pinnacle Wealth Management LLC's 9th Largest Position

Pinnacle Wealth Management LLC cut its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 44.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the biotechnology company's stock after selling 4,085 shares during the quarter. Axon Enterprise accounts for about 3.4% of Pinnacle Wealth Management LLC's investment portfolio, making the stock its 9th largest holding. Pinnacle Wealth Management LLC's holdings in Axon Enterprise were worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Perigon Wealth Management LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $488,000. Geneos Wealth Management Inc. boosted its position in Axon Enterprise by 630.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,847 shares of the biotechnology company's stock valued at $1,098,000 after purchasing an additional 1,594 shares in the last quarter. Chicago Capital LLC lifted its holdings in shares of Axon Enterprise by 8.2% during the 4th quarter. Chicago Capital LLC now owns 23,358 shares of the biotechnology company's stock valued at $13,882,000 after purchasing an additional 1,775 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at $4,606,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in Axon Enterprise during the 4th quarter worth about $260,000. Institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXON. JMP Securities restated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Needham & Company LLC upped their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group increased their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $652.73.

Axon Enterprise Stock Performance

Shares of AXON stock traded up $6.68 during trading on Wednesday, reaching $752.76. 181,514 shares of the company's stock traded hands, compared to its average volume of 735,478. The company has a market capitalization of $58.60 billion, a P/E ratio of 194.51, a PEG ratio of 5.17 and a beta of 1.24. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $610.27 and its 200 day moving average is $607.70. Axon Enterprise, Inc. has a 1 year low of $273.52 and a 1 year high of $753.41.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The business's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 EPS. Equities research analysts expect that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the sale, the chief executive officer now owns 3,063,982 shares of the company's stock, valued at $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeri Williams sold 307 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,969 shares of company stock valued at $23,127,314. Insiders own 5.70% of the company's stock.

Axon Enterprise 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.