PNC Financial Services Group Inc. Acquires 427 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

PNC Financial Services Group Inc. boosted its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,320 shares of the biotechnology company’s stock after buying an additional 427 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Axon Enterprise were worth $1,116,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. ICA Group Wealth Management LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $26,000. BKM Wealth Management LLC purchased a new stake in Axon Enterprise during the fourth quarter valued at about $32,000. Key Financial Inc boosted its position in Axon Enterprise by 367.6% during the fourth quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 125 shares during the period. Lindbrook Capital LLC raised its position in shares of Axon Enterprise by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 172 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 52 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Axon Enterprise from $297.00 to $339.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley raised their target price on Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Argus began coverage on Axon Enterprise in a research report on Wednesday, March 13th. They set a “buy” rating and a $380.00 price target on the stock. Craig Hallum raised their price objective on shares of Axon Enterprise from $325.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $335.27.

Axon Enterprise Stock Down 0.7 %

Shares of NASDAQ:AXON opened at $291.15 on Monday. The firm has a fifty day moving average of $295.73 and a 200 day moving average of $283.35. Axon Enterprise, Inc. has a 52-week low of $175.37 and a 52-week high of $329.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.55 and a current ratio of 2.91. The firm has a market capitalization of $21.97 billion, a PE ratio of 85.13 and a beta of 0.91.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Friday, May 10th. The biotechnology company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.95 by $0.20. The firm had revenue of $460.74 million for the quarter, compared to analyst estimates of $441.57 million. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. The company’s revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. As a group, research analysts anticipate that Axon Enterprise, Inc. will post 2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $281.72, for a total value of $279,747.96. Following the completion of the sale, the director now owns 4,553 shares of the company’s stock, valued at approximately $1,282,671.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Axon Enterprise news, President Joshua Isner sold 44,000 shares of Axon Enterprise stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $309.96, for a total value of $13,638,240.00. Following the transaction, the president now directly owns 275,843 shares of the company’s stock, valued at approximately $85,500,296.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie A. Cullivan sold 993 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $281.72, for a total value of $279,747.96. Following the sale, the director now directly owns 4,553 shares of the company’s stock, valued at approximately $1,282,671.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,447 shares of company stock valued at $27,684,677. 6.10% of the stock is currently owned by corporate insiders.

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.