Citigroup Inc. Reduces Stock Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Citigroup Inc. decreased its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 90.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 80,453 shares of the biotechnology company’s stock after selling 746,247 shares during the period. Citigroup Inc.’s holdings in Axon Enterprise were worth $32,149,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. PFG Investments LLC lifted its stake in Axon Enterprise by 0.6% in the third quarter. PFG Investments LLC now owns 3,872 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 25 shares during the last quarter. Gladstone Institutional Advisory LLC raised its position in Axon Enterprise by 1.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,641 shares of the biotechnology company’s stock valued at $656,000 after purchasing an additional 26 shares during the last quarter. Mather Group LLC. boosted its stake in Axon Enterprise by 3.7% during the 3rd quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock worth $303,000 after purchasing an additional 27 shares during the period. King Luther Capital Management Corp grew its position in Axon Enterprise by 0.3% during the 3rd quarter. King Luther Capital Management Corp now owns 10,474 shares of the biotechnology company’s stock worth $4,185,000 after purchasing an additional 34 shares during the last quarter. Finally, CWM LLC increased its stake in Axon Enterprise by 1.3% in the third quarter. CWM LLC now owns 2,856 shares of the biotechnology company’s stock valued at $1,141,000 after purchasing an additional 36 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $619.00 on Tuesday. The company’s fifty day moving average is $468.24 and its two-hundred day moving average is $370.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The firm has a market capitalization of $47.20 billion, a P/E ratio of 159.95, a PEG ratio of 14.02 and a beta of 0.94. Axon Enterprise, Inc. has a one year low of $224.28 and a one year high of $641.20.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total value of $12,123,000.00. Following the sale, the president now owns 208,166 shares of the company’s stock, valued at approximately $126,179,820.90. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 75,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $356.53, for a total value of $26,739,750.00. Following the transaction, the chief executive officer now directly owns 2,970,366 shares of the company’s stock, valued at $1,059,024,589.98. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 260,256 shares of company stock valued at $105,984,120. Corporate insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AXON shares. JMP Securities increased their target price on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays boosted their target price on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC increased their price target on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Craig Hallum boosted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $427.83.

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.