Patton Fund Management Inc. Lowers Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Patton Fund Management Inc. trimmed its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,469 shares of the biotechnology company’s stock after selling 1,856 shares during the quarter. Axon Enterprise accounts for approximately 1.5% of Patton Fund Management Inc.’s portfolio, making the stock its 12th largest holding. Patton Fund Management Inc.’s holdings in Axon Enterprise were worth $7,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AXON. Quent Capital LLC raised its holdings in Axon Enterprise by 1,875.0% in the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 75 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Axon Enterprise by 115.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group purchased a new position in shares of Axon Enterprise in the 3rd quarter valued at $41,000. Planning Capital Management Corp lifted its holdings in shares of Axon Enterprise by 83.3% during the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 55 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in Axon Enterprise during the 3rd quarter worth $51,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

AXON opened at $637.53 on Wednesday. The business has a 50 day moving average price of $618.29 and a two-hundred day moving average price of $476.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The company has a market capitalization of $48.61 billion, a price-to-earnings ratio of 164.74, a price-to-earnings-growth ratio of 6.09 and a beta of 1.04. Axon Enterprise, Inc. has a 1-year low of $247.04 and a 1-year high of $698.67.

Insider Activity at Axon Enterprise

In related news, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the sale, the director now owns 2,392 shares in the company, valued at approximately $1,631,487.52. This represents a 34.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey C. Kunins sold 21,834 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total value of $12,966,775.92. Following the completion of the sale, the insider now directly owns 154,394 shares of the company’s stock, valued at approximately $91,691,508.72. This trade represents a 12.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,545 shares of company stock valued at $30,721,337 over the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on AXON shares. Northland Securities boosted their price target on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC raised their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen started coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective on the stock. Finally, Robert W. Baird raised their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $524.85.

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.