Pinnacle Wealth Management LLC Acquires 444 Shares of Axon Enterprise, Inc $AXON

Pinnacle Wealth Management LLC grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,030 shares of the biotechnology company’s stock after purchasing an additional 444 shares during the quarter. Axon Enterprise makes up approximately 3.5% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 6th largest holding. Pinnacle Wealth Management LLC’s holdings in Axon Enterprise were worth $4,165,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. TCI Wealth Advisors Inc. acquired a new stake in Axon Enterprise during the second quarter worth approximately $214,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Axon Enterprise during the first quarter worth approximately $1,110,000. Duncker Streett & Co. Inc. boosted its position in Axon Enterprise by 3.2% during the second quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock worth $12,006,000 after acquiring an additional 448 shares during the last quarter. Quotient Wealth Partners LLC acquired a new stake in Axon Enterprise during the first quarter worth approximately $438,000. Finally, GAMMA Investing LLC boosted its position in Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock worth $765,000 after acquiring an additional 154 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Joshua Isner sold 15,919 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the transaction, the president owned 238,379 shares of the company’s stock, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey C. Kunins sold 7,891 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $750.10, for a total transaction of $5,919,039.10. Following the completion of the transaction, the insider directly owned 144,538 shares in the company, valued at approximately $108,417,953.80. This represents a 5.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,932 shares of company stock worth $45,115,616. 4.40% of the stock is owned by company insiders.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $670.68 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The company has a market cap of $52.65 billion, a P/E ratio of 165.60, a P/E/G ratio of 26.04 and a beta of 1.41. Axon Enterprise, Inc has a fifty-two week low of $422.38 and a fifty-two week high of $885.91. The firm’s 50 day moving average is $739.44 and its two-hundred day moving average is $718.36.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an “overweight” rating in a research report on Friday, July 11th. Wolfe Research assumed coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an “outperform” rating on the stock. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Bank of America raised their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Raymond James Financial restated an “outperform” rating and set a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $841.64.

Axon Enterprise 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.