Axon Enterprise, Inc $AXON Shares Sold by Spire Wealth Management

Spire Wealth Management reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 82.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,545 shares of the biotechnology company’s stock after selling 7,356 shares during the period. Spire Wealth Management’s holdings in Axon Enterprise were worth $877,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in Axon Enterprise during the third quarter worth about $29,000. New Millennium Group LLC acquired a new position in Axon Enterprise during the third quarter worth $29,000. Root Financial Partners LLC acquired a new position in Axon Enterprise during the 3rd quarter worth about $34,000. Darwin Wealth Management LLC purchased a new position in shares of Axon Enterprise in the second quarter valued at approximately $37,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Axon Enterprise in the second quarter worth $56,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $424.69 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91. The firm’s fifty day moving average price is $493.71 and its 200 day moving average price is $585.07. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of 279.40, a price-to-earnings-growth ratio of 8.86 and a beta of 1.46.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.55. The firm had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share. On average, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Erika Nardini sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the sale, the director directly owned 1,946 shares of the company’s stock, valued at approximately $985,804.68. This represents a 9.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeri Williams sold 157 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the completion of the sale, the director owned 1,159 shares in the company, valued at $567,910. The trade was a 11.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 23,855 shares of company stock valued at $13,299,928. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AXON shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Friday. Piper Sandler dropped their price target on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Morgan Stanley dropped their price objective on shares of Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC decreased their price target on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, UBS Group lowered their price objective on Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $762.93.

Axon Enterprise 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.