Paragon Private Wealth Management LLC Sells 1,243 Shares of Axon Enterprise, Inc $AXON

Paragon Private Wealth Management LLC lowered its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 73.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 456 shares of the biotechnology company’s stock after selling 1,243 shares during the period. Paragon Private Wealth Management LLC’s holdings in Axon Enterprise were worth $256,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Axon Enterprise during the 4th quarter valued at $480,000. NewEdge Advisors LLC lifted its holdings in Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC lifted its holdings in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP boosted its stake in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Axon Enterprise in the 2nd quarter worth about $284,000. 79.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AXON. Morgan Stanley upped their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Barclays boosted their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Argus upped their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $538.15 on Friday. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 223.30, a PEG ratio of 8.23 and a beta of 1.40. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $568.46 and a 200 day simple moving average of $486.03. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $792.16.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 EPS. On average, research analysts forecast that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Patrick Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total value of $6,437,900.00. Following the sale, the chief executive officer directly owned 3,040,997 shares of the company’s stock, valued at $1,957,763,458.63. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. The trade was a 8.95% 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 56,380 shares of company stock worth $32,582,366. Insiders own 4.20% of the company’s stock.

About Axon Enterprise

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.