Kestra Private Wealth Services LLC Cuts Holdings in Axon Enterprise, Inc $AXON

Kestra Private Wealth Services LLC decreased its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,788 shares of the biotechnology company’s stock after selling 1,239 shares during the period. Kestra Private Wealth Services LLC’s holdings in Axon Enterprise were worth $6,705,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Creative Financial Designs Inc. ADV bought a new position in shares of Axon Enterprise during the fourth quarter valued at $28,000. Sound Income Strategies LLC increased its holdings in Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Axon Enterprise in the 4th quarter worth about $30,000. AlphaCentric Advisors LLC bought a new position in Axon Enterprise during the 4th quarter valued at about $34,000. Finally, Lodestone Wealth Management LLC bought a new position in Axon Enterprise during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXON. UBS Group dropped their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Citizens Jmp restated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Insider Transactions at Axon Enterprise

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 38,989 shares of company stock valued at $19,090,083. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Up 4.6%

NASDAQ:AXON opened at $465.12 on Friday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The business has a fifty day moving average price of $420.65 and a 200-day moving average price of $482.08. The firm has a market capitalization of $37.49 billion, a price-to-earnings ratio of 186.79, a price-to-earnings-growth ratio of 8.09 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 earnings per share. Sell-side analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.