Pittenger & Anderson Inc. lowered its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395 shares of the biotechnology company's stock after selling 410 shares during the period. Pittenger & Anderson Inc.'s holdings in Axon Enterprise were worth $734,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC increased its stake in shares of Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Axon Enterprise in the first quarter worth $32,000. Alpine Bank Wealth Management purchased a new position in Axon Enterprise during the first quarter valued at $40,000. Finally, Elequin Capital LP purchased a new position in Axon Enterprise during the fourth quarter valued at $46,000. Institutional investors own 79.08% of the company's stock.
Insiders Place Their Bets
In other news, CRO Cameron Brooks sold 3,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were 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 of the company's stock, valued at $14,405,559.72. This represents a 13.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the sale, the director directly owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,642 shares of company stock worth $30,500,428. Company insiders own 5.70% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on AXON. Barclays raised their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wolfe Research initiated coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating for the company. UBS Group initiated coverage on shares of Axon Enterprise in a research report on Wednesday. They issued a "neutral" rating and a $820.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Bank of America boosted their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $725.00.
Get Our Latest Analysis on AXON
Axon Enterprise Stock Down 0.9%
Shares of NASDAQ AXON traded down $6.63 during trading hours on Wednesday, hitting $739.24. 303,034 shares of the stock were exchanged, compared to its average volume of 702,917. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month high of $830.21. The company has a market cap of $57.55 billion, a PE ratio of 178.56, a PEG ratio of 86.36 and a beta of 1.29. The firm has a fifty day moving average price of $758.11 and a 200-day moving average price of $642.83.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly 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. The business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. Axon Enterprise'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 business posted $1.15 EPS. On average, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.
About Axon Enterprise
(
Free Report)
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.
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