Pier Capital LLC Reduces Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Pier Capital LLC lowered its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 47.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,143 shares of the biotechnology company’s stock after selling 1,031 shares during the period. Pier Capital LLC’s holdings in Axon Enterprise were worth $679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Axon Enterprise by 17.5% in the third quarter. PNC Financial Services Group Inc. now owns 5,627 shares of the biotechnology company’s stock valued at $2,249,000 after buying an additional 840 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Axon Enterprise by 306.1% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,850 shares of the biotechnology company’s stock valued at $1,539,000 after acquiring an additional 2,902 shares during the period. Penserra Capital Management LLC raised its position in Axon Enterprise by 12.6% in the 3rd quarter. Penserra Capital Management LLC now owns 6,297 shares of the biotechnology company’s stock valued at $2,516,000 after purchasing an additional 706 shares during the last quarter. Swedbank AB boosted its stake in Axon Enterprise by 1.7% during the 3rd quarter. Swedbank AB now owns 132,603 shares of the biotechnology company’s stock worth $52,988,000 after purchasing an additional 2,206 shares during the period. Finally, Centaurus Financial Inc. grew its position in Axon Enterprise by 22.8% during the 3rd quarter. Centaurus Financial Inc. now owns 4,528 shares of the biotechnology company’s stock worth $1,809,000 after purchasing an additional 840 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXON has been the subject of a number of research reports. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. JMP Securities reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Robert W. Baird lifted 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. Craig Hallum cut Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $600.00 price target on shares of Axon Enterprise in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $604.67.

Insider Buying and Selling at Axon Enterprise

In related news, Director Jeri Williams sold 307 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the sale, the director now owns 1,627 shares in the company, valued at $899,275.44. This represents a 15.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of Axon Enterprise stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the transaction, the director now directly owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

Shares of AXON opened at $572.52 on Tuesday. The company has a market capitalization of $43.87 billion, a PE ratio of 147.94, a P/E/G ratio of 5.17 and a beta of 1.12. Axon Enterprise, Inc. has a 52-week low of $273.52 and a 52-week high of $715.99. The company has a 50-day simple moving average of $591.98 and a 200-day simple moving average of $545.11. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

Axon Enterprise Company 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.