GM Advisory Group LLC Trims Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

GM Advisory Group LLC cut its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 10.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,313 shares of the biotechnology company’s stock after selling 275 shares during the period. GM Advisory Group LLC’s holdings in Axon Enterprise were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 79 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $26,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Axon Enterprise in the first quarter valued at about $31,000. First PREMIER Bank purchased a new stake in shares of Axon Enterprise in the first quarter valued at about $33,000. Finally, Rise Advisors LLC raised its holdings in shares of Axon Enterprise by 49.0% in the first quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 47 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AXON. Northland Securities upped their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Axon Enterprise in a research note on Wednesday, August 7th. Craig Hallum boosted their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird boosted their price target on shares of Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, JMP Securities upped their target price on shares of Axon Enterprise from $375.00 to $430.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.38.

Axon Enterprise Stock Performance

Shares of AXON opened at $389.74 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 113.96, a PEG ratio of 10.34 and a beta of 0.94. The company’s 50 day simple moving average is $344.06 and its 200 day simple moving average is $316.19. Axon Enterprise, Inc. has a 1 year low of $189.12 and a 1 year high of $391.55.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.18. The business had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company’s quarterly revenue was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, sell-side analysts predict that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $380.99, for a total value of $380,990.00. Following the transaction, the director now owns 27,259 shares of the company’s stock, valued at approximately $10,385,406.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $380.99, for a total transaction of $380,990.00. Following the completion of the sale, the director now directly owns 27,259 shares of the company’s stock, valued at approximately $10,385,406.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 25,811 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the sale, the president now directly owns 228,166 shares of the company’s stock, valued at $82,103,253.44. The disclosure for this sale can be found here. Insiders have sold a total of 317,981 shares of company stock valued at $115,662,734 over the last quarter. Company insiders own 6.10% of the company’s stock.

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.