Axon Enterprise, Inc $AXON Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in Axon Enterprise, Inc (NASDAQ:AXON) by 11.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,729 shares of the biotechnology company’s stock after selling 8,262 shares during the period. Commonwealth Equity Services LLC owned about 0.08% of Axon Enterprise worth $46,452,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. increased its stake in shares of Axon Enterprise by 4.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 32,047 shares of the biotechnology company’s stock valued at $22,998,000 after purchasing an additional 1,273 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Axon Enterprise by 1.9% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,101 shares of the biotechnology company’s stock valued at $790,000 after purchasing an additional 20 shares during the period. Western Financial Corp CA increased its position in shares of Axon Enterprise by 147.0% in the third quarter. Western Financial Corp CA now owns 2,203 shares of the biotechnology company’s stock valued at $1,581,000 after buying an additional 1,311 shares in the last quarter. Ascent Wealth Partners LLC raised its stake in shares of Axon Enterprise by 0.6% during the 3rd quarter. Ascent Wealth Partners LLC now owns 14,554 shares of the biotechnology company’s stock worth $10,445,000 after buying an additional 86 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of Axon Enterprise by 4.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,078 shares of the biotechnology company’s stock worth $774,000 after buying an additional 48 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,134 shares of Axon Enterprise stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares in the company, valued at approximately $8,244,000. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $551.92, for a total value of $5,519,200.00. Following the transaction, the chief executive officer directly owned 3,110,997 shares in the company, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 50,540 shares of company stock valued at $28,494,638. 5.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group cut their price target on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price on the stock in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Piper Sandler decreased their price target on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Barclays cut their price objective on Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $798.67.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $626.65 on Wednesday. The company has a market cap of $49.45 billion, a P/E ratio of 198.31, a P/E/G ratio of 18.61 and a beta of 1.41. Axon Enterprise, Inc has a twelve month low of $469.24 and a twelve month high of $885.91. The company’s 50-day moving average price is $580.16 and its 200-day moving average price is $690.88. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $704.83 million. During the same period in the prior year, the company posted $1.45 EPS. The firm’s revenue was up 30.6% on a year-over-year basis. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Profile

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.