Institute for Wealth Management LLC. Sells 80 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Institute for Wealth Management LLC. reduced its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 0.4% in the 1st quarter, HoldingsChannel reports. The fund owned 20,626 shares of the biotechnology company’s stock after selling 80 shares during the period. Axon Enterprise comprises approximately 1.4% of Institute for Wealth Management LLC.’s holdings, making the stock its 7th biggest position. Institute for Wealth Management LLC.’s holdings in Axon Enterprise were worth $10,848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors increased its stake in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after buying an additional 841,772 shares during the period. Alliancebernstein L.P. boosted its holdings in Axon Enterprise by 273.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock valued at $659,128,000 after acquiring an additional 812,337 shares during the last quarter. Norges Bank acquired a new stake in Axon Enterprise during the 4th quarter valued at approximately $482,081,000. GQG Partners LLC bought a new position in Axon Enterprise during the 4th quarter worth approximately $478,349,000. Finally, GAMMA Investing LLC raised its holdings in Axon Enterprise by 58,725.5% during the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

AXON stock opened at $770.79 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The company’s 50-day moving average is $683.57 and its 200-day moving average is $624.47. The stock has a market capitalization of $60.01 billion, a PE ratio of 186.18, a price-to-earnings-growth ratio of 89.50 and a beta of 1.29. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $806.64.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The business had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same quarter in the prior year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 31.3% on a year-over-year basis. Equities research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 9,905 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total value of $7,310,187.15. Following the transaction, the president now directly owns 298,809 shares of the company’s stock, valued at approximately $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the transaction, the chief executive officer now owns 3,063,982 shares of the company’s stock, valued at $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,642 shares of company stock valued at $30,500,428 over the last ninety days. 4.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AXON shares. Barclays upped their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC increased their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Bank of America boosted their price objective on Axon Enterprise from $750.00 to $895.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Craig Hallum lowered Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $699.55.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.