7,975 Axon Enterprise, Inc $AXON Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 26.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,685 shares of the biotechnology company’s stock after selling 7,975 shares during the period. Cornerstone Advisors LLC’s holdings in Axon Enterprise were worth $9,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Keel Point LLC boosted its stake in shares of Axon Enterprise by 4.4% during the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock valued at $254,000 after purchasing an additional 25 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Axon Enterprise by 4.4% during the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock worth $352,000 after purchasing an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Axon Enterprise by 7.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 361 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 26 shares during the last quarter. 44 Wealth Management LLC increased its stake in shares of Axon Enterprise by 6.0% in the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 30 shares during the period. Finally, Owl Creek Wealth Partners LLC increased its stake in shares of Axon Enterprise by 84.8% in the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 39 shares during the period. Institutional investors own 79.08% of the company’s stock.

Insider Activity

In related news, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction 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 completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the transaction, the president directly owned 296,974 shares of the company’s stock, valued at $170,590,774.82. This represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 37,397 shares of company stock valued at $21,234,034. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON opened at $315.43 on Friday. The business has a 50-day moving average of $417.79 and a 200-day moving average of $467.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.00 and a quick ratio of 2.60. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 101.10, a price-to-earnings-growth ratio of 5.84 and a beta of 1.48. Axon Enterprise, Inc has a 1 year low of $291.45 and a 1 year high of $665.07.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The firm had revenue of $908.55 million for the quarter, compared to analyst estimates of $934.33 million. During the same period in the prior year, the company posted $1.17 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Axon Enterprise in a report on Monday, November 2nd. Northland Securities set a $540.00 target price on shares of Axon Enterprise in a report on Friday, November 6th. UBS Group upped their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Morgan Stanley upped their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating and set a $390.00 price target for the company. in a research note on Friday, November 6th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $612.18.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.