Exchange Traded Concepts LLC Cuts Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Exchange Traded Concepts LLC trimmed its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 56.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,687 shares of the biotechnology company’s stock after selling 2,192 shares during the period. Exchange Traded Concepts LLC’s holdings in Axon Enterprise were worth $674,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC boosted its stake in Axon Enterprise by 1,875.0% during the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Blue Trust Inc. boosted its stake in Axon Enterprise by 987.5% during the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares during the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in Axon Enterprise during the 1st quarter valued at $31,000. First PREMIER Bank purchased a new stake in Axon Enterprise during the 1st quarter valued at $33,000. Finally, Asset Dedication LLC purchased a new stake in Axon Enterprise during the 2nd quarter valued at $47,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $438.05 on Friday. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $388.71 and its two-hundred day simple moving average is $331.64. The stock has a market cap of $33.10 billion, a PE ratio of 115.58, a P/E/G ratio of 11.74 and a beta of 0.94. Axon Enterprise, Inc. has a 52 week low of $199.29 and a 52 week high of $440.89.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The business had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The business’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. As a group, analysts forecast that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Analysts Set New Price Targets

AXON has been the topic of a number of research reports. Bank of America initiated coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price target on the stock. Craig Hallum raised their price target on Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Axon Enterprise in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price target on the stock. Finally, Barclays raised their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.38.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total value of $437,980.00. Following the sale, the director now directly owns 26,259 shares in the company, valued at approximately $11,500,916.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,172 shares of company stock valued at $137,000,162 over the last ninety days. 5.70% of the stock is currently owned by company 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.