Virtu Financial LLC Trims Stake in Axon Enterprise, Inc $AXON

Virtu Financial LLC cut its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 74.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,810 shares of the biotechnology company’s stock after selling 5,214 shares during the period. Virtu Financial LLC’s holdings in Axon Enterprise were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise during the 2nd quarter worth $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $28,000. Sound Income Strategies LLC raised its holdings in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise in the fourth quarter worth about $34,000. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AXON shares. TD Cowen dropped their target price on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Wall Street Zen raised shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citizens Jmp lowered their price target on shares of Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the transaction, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This trade represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,989 shares of company stock valued at $19,090,083 in the last 90 days. 4.20% of the stock is owned by insiders.

Axon Enterprise Stock Performance

Shares of AXON opened at $423.40 on Monday. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91. The stock has a fifty day moving average price of $413.25 and a 200-day moving average price of $485.28. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The firm has a market cap of $34.13 billion, a PE ratio of 170.04, a P/E/G ratio of 7.70 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter last year, the firm earned $1.47 EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis. Equities research analysts predict that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

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.