Pittenger & Anderson Inc. Acquires 3,255 Shares of Axon Enterprise, Inc $AXON

Pittenger & Anderson Inc. grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 226.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,695 shares of the biotechnology company’s stock after purchasing an additional 3,255 shares during the period. Pittenger & Anderson Inc.’s holdings in Axon Enterprise were worth $1,994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AXON. Baillie Gifford & Co. increased its stake in Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares during the period. Edgewood Management LLC bought a new position in Axon Enterprise in the 4th quarter worth about $846,516,000. Wellington Management Group LLP grew its stake in Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares in the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise during the fourth quarter worth approximately $515,764,000. Finally, Sands Capital Management LLC increased its position in shares of Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after acquiring an additional 167,095 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXON. Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Piper Sandler restated an “overweight” rating and set a $674.00 price objective on shares of Axon Enterprise in a report on Monday, June 15th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research report on Thursday, May 7th. UBS Group lowered their target price on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Citizens Jmp restated a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $722.12.

Insider Buying and Selling at Axon Enterprise

In other news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the transaction, the executive directly owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. The trade was a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 58,989 shares of company stock worth $30,527,983. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Down 2.8%

Shares of NASDAQ AXON traded down $16.20 during midday trading on Friday, reaching $565.80. 762,731 shares of the company’s stock traded hands, compared to its average volume of 1,119,821. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $457.90 and its 200-day simple moving average is $483.77. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The company has a market cap of $45.60 billion, a price-to-earnings ratio of 227.23, a P/E/G ratio of 11.54 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. Axon Enterprise’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Axon Enterprise Company 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.