First Citizens Bank & Trust Co. Sells 523 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

First Citizens Bank & Trust Co. cut its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 37.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 874 shares of the biotechnology company’s stock after selling 523 shares during the period. First Citizens Bank & Trust Co.’s holdings in Axon Enterprise were worth $460,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC lifted its position in Axon Enterprise by 86.5% during the first quarter. Capital Investment Advisors LLC now owns 1,285 shares of the biotechnology company’s stock valued at $676,000 after acquiring an additional 596 shares during the last quarter. Yarbrough Capital LLC lifted its holdings in Axon Enterprise by 100.0% during the first quarter. Yarbrough Capital LLC now owns 836 shares of the biotechnology company’s stock valued at $440,000 after purchasing an additional 418 shares in the last quarter. Whitaker Myers Wealth Managers LTD. lifted its holdings in Axon Enterprise by 167.6% during the first quarter. Whitaker Myers Wealth Managers LTD. now owns 1,041 shares of the biotechnology company’s stock valued at $548,000 after purchasing an additional 652 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Axon Enterprise by 22.8% in the first quarter. Wedmont Private Capital now owns 825 shares of the biotechnology company’s stock worth $469,000 after buying an additional 153 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in shares of Axon Enterprise by 14.6% in the first quarter. SeaCrest Wealth Management LLC now owns 1,599 shares of the biotechnology company’s stock worth $841,000 after buying an additional 204 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $762.66 on Wednesday. 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 $279.02 and a twelve month high of $806.64. The company has a market capitalization of $59.37 billion, a price-to-earnings ratio of 197.07, a PEG ratio of 5.17 and a beta of 1.29. The firm has a 50-day moving average of $652.86 and a two-hundred day moving average of $618.42.

Axon Enterprise (NASDAQ:AXON) last issued its 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. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The company had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, analysts expect that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Bank of America boosted their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. The Goldman Sachs Group upped their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Needham & Company LLC upped their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $699.55.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total value 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 approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the transaction, the director now owns 17,740 shares of the company’s stock, valued at approximately $13,482,400. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,969 shares of company stock worth $29,909,594. 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.