Pinnacle Wealth Management LLC Has $3.09 Million Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Pinnacle Wealth Management LLC decreased its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 44.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the biotechnology company's stock after selling 4,085 shares during the period. Axon Enterprise comprises approximately 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 SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new position in shares of Axon Enterprise in the 4th quarter valued at $40,000. Y.D. More Investments Ltd acquired a new position in Axon Enterprise in the 4th quarter valued at about $45,000. Elequin Capital LP purchased a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $46,000. Stonebridge Financial Group LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at $53,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Axon Enterprise by 74.1% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company's stock valued at $56,000 after acquiring an additional 40 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXON has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Finally, Needham & Company LLC boosted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $652.73.

Axon Enterprise Stock Up 1.9%

AXON stock traded up $13.67 during trading on Tuesday, reaching $745.04. 342,668 shares of the stock were exchanged, compared to its average volume of 739,452. The firm's 50 day moving average is $606.52 and its 200 day moving average is $606.73. The firm has a market cap of $58.00 billion, a P/E ratio of 192.52, a price-to-earnings-growth 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. Axon Enterprise, Inc. has a twelve month low of $273.52 and a twelve month high of $748.80.

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

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 9,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $683.31, for a total transaction of $6,149,790.00. Following the sale, the president now directly owns 308,714 shares in the company, valued at approximately $210,947,363.34. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the transaction, the director now directly owns 4,829 shares of the company's stock, valued at approximately $3,567,858.36. This represents a 21.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,969 shares of company stock worth $23,127,314 over the last three months. 4.40% of the stock is currently owned by insiders.

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.