Prospera Financial Services Inc Sells 10,524 Shares of Axon Enterprise, Inc $AXON

Key Points

• Prospera Financial Services slashed its Axon Enterprise stake by 95.5% in the fourth quarter, selling 10,524 shares and leaving it with just 491 shares worth about $279,000.
• Axon reported better-than-expected quarterly results, with EPS of $1.61 versus estimates of $1.60 and revenue of $807.35 million versus $778.91 million expected. Revenue rose 33.7% year over year.
• Despite recent insider selling and mixed analyst target cuts, Wall Street still has a Moderate Buy consensus on AXON, with an average price target of $712.75.

Prospera Financial Services Inc cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 95.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 491 shares of the biotechnology company's stock after selling 10,524 shares during the period. Prospera Financial Services Inc's holdings in Axon Enterprise were worth $279,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV purchased a new stake in Axon Enterprise in the fourth quarter worth $28,000. New Millennium Group LLC purchased a new stake in shares of Axon Enterprise in the third quarter worth $29,000. Sound Income Strategies LLC raised its holdings in shares of Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Axon Enterprise during the fourth quarter valued at approximately $30,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Axon Enterprise during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Up 6.3%

NASDAQ:AXON opened at $476.88 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The business has a fifty day moving average price of $407.02 and a 200-day moving average price of $493.35. The firm has a market capitalization of $38.44 billion, a price-to-earnings ratio of 191.52, a price-to-earnings-growth ratio of 8.16 and a beta of 1.44. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business's quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. Sell-side analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the sale, the insider owned 52,813 shares in the company, valued at $21,125,200. The trade was a 3.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erika Nardini sold 198 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the transaction, the director directly owned 1,946 shares of the company's stock, valued at approximately $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,355 shares of company stock valued at $977,233. 4.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on AXON shares. Needham & Company LLC cut their target price on Axon Enterprise from $870.00 to $600.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Weiss Ratings upgraded Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Craig Hallum reissued a "buy" rating and issued a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Citizens Jmp dropped their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating on the stock in a report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $712.75.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

Want to see what other hedge funds are holding AXON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axon Enterprise, Inc (NASDAQ:AXON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.