Patton Fund Management Inc. Cuts Stock Holdings in Axon Enterprise, Inc $AXON

Patton Fund Management Inc. trimmed its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 92.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 397 shares of the biotechnology company’s stock after selling 4,778 shares during the period. Patton Fund Management Inc.’s holdings in Axon Enterprise were worth $225,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NEOS Investment Management LLC grew its stake in shares of Axon Enterprise by 82.7% in the 3rd quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company’s stock worth $18,206,000 after buying an additional 11,482 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after buying an additional 376,904 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Axon Enterprise by 3.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock worth $132,349,000 after buying an additional 5,953 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Axon Enterprise by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company’s stock worth $302,208,000 after buying an additional 12,736 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Axon Enterprise by 93.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock worth $13,270,000 after buying an additional 11,262 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $402.18 on Thursday. 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 1-year low of $339.01 and a 1-year high of $885.91. The firm has a market capitalization of $32.34 billion, a P/E ratio of 264.59, a price-to-earnings-growth ratio of 8.13 and a beta of 1.61. The company’s 50-day moving average is $460.43 and its 200 day moving average is $558.53.

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

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total value of $5,002,400.00. Following the sale, the chief executive officer directly owned 3,090,997 shares of the company’s stock, valued at $1,546,240,339.28. This represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erika Nardini sold 198 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the sale, the director directly owned 1,946 shares in the company, valued at $985,804.68. This trade represents a 9.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,855 shares of company stock worth $7,109,828 over the last three months. 4.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating on shares of Axon Enterprise in a research note on Wednesday, April 8th. The Goldman Sachs Group dropped their price objective on shares of Axon Enterprise from $720.00 to $625.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. UBS Group dropped their price objective on shares of Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Finally, TD Cowen dropped their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Sixteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $755.88.

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.