Pittenger & Anderson Inc. Reduces Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Pittenger & Anderson Inc. cut its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 17.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,805 shares of the biotechnology company’s stock after selling 373 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Axon Enterprise were worth $1,073,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Bleakley Financial Group LLC raised its holdings in Axon Enterprise by 7.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,507 shares of the biotechnology company’s stock valued at $602,000 after buying an additional 110 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Axon Enterprise by 2.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,391 shares of the biotechnology company’s stock valued at $2,953,000 after acquiring an additional 143 shares during the period. Stratos Wealth Advisors LLC bought a new stake in shares of Axon Enterprise in the 3rd quarter worth about $259,000. Blue Trust Inc. lifted its holdings in shares of Axon Enterprise by 234.5% in the 3rd quarter. Blue Trust Inc. now owns 291 shares of the biotechnology company’s stock worth $116,000 after acquiring an additional 204 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Axon Enterprise by 7.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 75,201 shares of the biotechnology company’s stock worth $30,050,000 after purchasing an additional 5,218 shares during the period. 79.08% of the stock is owned by institutional investors.

Insider Activity

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 2,304 shares of Axon Enterprise stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $654.79, for a total value of $1,508,636.16. Following the transaction, the insider now owns 128,542 shares in the company, valued at $84,168,016.18. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $639.69, for a total transaction of $639,690.00. Following the completion of the sale, the director now owns 24,259 shares in the company, valued at $15,518,239.71. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,711 shares of company stock worth $5,631,561. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

AXON stock opened at $683.41 on Tuesday. Axon Enterprise, Inc. has a 1-year low of $260.27 and a 1-year high of $698.67. The business has a 50-day moving average price of $624.03 and a 200 day moving average price of $511.87. The company has a market capitalization of $52.11 billion, a P/E ratio of 176.59, a PEG ratio of 6.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Analyst Upgrades and Downgrades

AXON has been the subject of several analyst reports. Needham & Company LLC raised their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. TD Cowen initiated coverage on Axon Enterprise in a research report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective on the stock. Northland Securities lifted their target price on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, JMP Securities boosted their target price on shares of Axon Enterprise from $610.00 to $725.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.15.

Axon Enterprise Profile

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.