King Luther Capital Management Corp Lowers Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

King Luther Capital Management Corp reduced its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,440 shares of the biotechnology company’s stock after selling 1,108 shares during the quarter. King Luther Capital Management Corp’s holdings in Axon Enterprise were worth $3,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new position in Axon Enterprise in the fourth quarter worth about $26,000. Blue Trust Inc. raised its holdings in Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 79 shares in the last quarter. Trivant Custom Portfolio Group LLC bought a new position in Axon Enterprise in the first quarter worth about $31,000. First PREMIER Bank bought a new position in Axon Enterprise in the first quarter worth about $33,000. Finally, Rise Advisors LLC raised its holdings in Axon Enterprise by 49.0% in the first quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 47 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Julie A. Cullivan sold 900 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the transaction, the director now owns 3,653 shares in the company, valued at approximately $1,291,445.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Julie A. Cullivan sold 900 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the transaction, the director now owns 3,653 shares in the company, valued at approximately $1,291,445.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at approximately $1,121,052,771.48. The disclosure for this sale can be found here. Insiders have sold 317,981 shares of company stock worth $115,662,734 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Axon Enterprise Trading Up 0.9 %

Axon Enterprise stock opened at $393.29 on Friday. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. Axon Enterprise, Inc. has a 12 month low of $189.12 and a 12 month high of $393.58. The stock’s 50 day simple moving average is $348.04 and its two-hundred day simple moving average is $317.22. The firm has a market cap of $29.72 billion, a PE ratio of 115.00, a P/E/G ratio of 10.34 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The business had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. Analysts anticipate that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AXON. Robert W. Baird upped their price objective on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Axon Enterprise in a report on Wednesday, August 7th. Northland Securities upped their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Barclays upped their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Craig Hallum upped their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus target price of $365.38.

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.