PKO Investment Management Joint Stock Co Cuts Stake in Axon Enterprise, Inc $AXON

PKO Investment Management Joint Stock Co cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 31.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the biotechnology company’s stock after selling 1,400 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Axon Enterprise were worth $1,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC acquired a new position in shares of Axon Enterprise in the second quarter worth $37,000. Creative Financial Designs Inc. ADV purchased a new position in Axon Enterprise in the fourth quarter valued at $28,000. Sound Income Strategies LLC grew its stake in Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the 4th quarter worth about $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the transaction, the director directly owned 3,632 shares in the company, valued at $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% 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. In the last ninety days, insiders have sold 38,989 shares of company stock worth $19,090,083. 4.20% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Down 3.2%

Axon Enterprise stock opened at $410.03 on Tuesday. The stock has a market cap of $33.05 billion, a PE ratio of 164.67, a P/E/G ratio of 7.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The stock’s fifty day moving average is $414.43 and its two-hundred day moving average is $484.39. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91.

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

Wall Street Analyst Weigh In

AXON has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $674.00 price objective on shares of Axon Enterprise in a research note on Monday, June 15th. Craig Hallum restated a “buy” rating and set a $820.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. Royal Bank Of Canada reduced their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Robert W. Baird set a $800.00 target price on shares of Axon Enterprise in a report on Wednesday, February 25th. Finally, Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $712.75.

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.