Insigneo Advisory Services LLC Cuts Position in Axon Enterprise, Inc (NASDAQ:AXON)

Insigneo Advisory Services LLC decreased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,519 shares of the biotechnology company’s stock after selling 35 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Axon Enterprise were worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AXON. Fourth Dimension Wealth LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter worth about $30,000. Elequin Capital LP purchased a new position in Axon Enterprise in the 4th quarter valued at about $46,000. CoreFirst Bank & Trust acquired a new stake in Axon Enterprise in the 4th quarter worth about $59,000. Global Financial Private Client LLC increased its stake in Axon Enterprise by 11,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company’s stock worth $59,000 after buying an additional 111 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Axon Enterprise during the 1st quarter worth approximately $77,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the transaction, the chief executive officer now owns 3,063,982 shares of the company’s stock, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Joshua Isner sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $683.31, for a total value of $6,149,790.00. Following the completion of the sale, the president now directly owns 308,714 shares in the company, valued at approximately $210,947,363.34. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,737 shares of company stock valued at $29,797,795 in the last quarter. Insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON stock opened at $777.54 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The company has a market capitalization of $60.53 billion, a PE ratio of 187.81, a price-to-earnings-growth ratio of 89.86 and a beta of 1.29. The firm’s 50-day moving average is $679.36 and its two-hundred day moving average is $623.45. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month high of $806.64.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm 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%. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. Analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXON. The Goldman Sachs Group lifted their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Barclays raised their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Northcoast Research lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Bank of America increased their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, Needham & Company LLC boosted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $699.55.

About Axon Enterprise

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.