Whitaker Myers Wealth Managers LTD. Reduces Holdings in Axon Enterprise, Inc $AXON

Whitaker Myers Wealth Managers LTD. lowered its position in Axon Enterprise, Inc (NASDAQ:AXON) by 79.0% during the third quarter, HoldingsChannel reports. The firm owned 386 shares of the biotechnology company’s stock after selling 1,451 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Axon Enterprise were worth $277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestor Capital LLC raised its position in shares of Axon Enterprise by 438,636.3% in the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after buying an additional 833,409 shares during the last quarter. Norges Bank purchased a new stake in Axon Enterprise during the 2nd quarter valued at about $637,806,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Axon Enterprise in the 2nd quarter valued at about $255,833,000. Vanguard Group Inc. lifted its stake in Axon Enterprise by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after purchasing an additional 305,252 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Axon Enterprise by 129.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock worth $444,124,000 after purchasing an additional 302,420 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 1,797 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $539.23, for a total transaction of $968,996.31. Following the completion of the transaction, the insider owned 83,485 shares of the company’s stock, valued at approximately $45,017,616.55. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the sale, the chief executive officer owned 3,110,997 shares of the company’s stock, valued at $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,540 shares of company stock valued at $39,201,438 over the last quarter. 4.40% of the stock is owned by insiders.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $591.15 on Friday. Axon Enterprise, Inc has a 52 week low of $469.24 and a 52 week high of $885.91. The stock’s fifty day moving average is $601.45 and its two-hundred day moving average is $702.84. The company has a market capitalization of $46.65 billion, a P/E ratio of 187.07, a P/E/G ratio of 135.77 and a beta of 1.40. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 earnings per share. Equities analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AXON. Needham & Company LLC reaffirmed a “buy” rating and issued a $870.00 price target on shares of Axon Enterprise in a report on Wednesday, September 24th. JMP Securities restated a “market outperform” rating and issued a $825.00 target price on shares of Axon Enterprise in a report on Monday, September 29th. Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Piper Sandler reduced their price target on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Barclays dropped their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $802.71.

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.