Patton Fund Management Inc. Sells 793 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Patton Fund Management Inc. trimmed its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,325 shares of the biotechnology company’s stock after selling 793 shares during the period. Patton Fund Management Inc.’s holdings in Axon Enterprise were worth $5,724,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC raised its position in shares of Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Blue Trust Inc. raised its position in shares of Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 79 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in Axon Enterprise during the 1st quarter worth $31,000. First PREMIER Bank purchased a new position in Axon Enterprise during the 1st quarter worth $33,000. Finally, Rise Advisors LLC grew its stake in Axon Enterprise by 49.0% during the 1st quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock worth $45,000 after buying an additional 47 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the completion of the sale, the director now directly owns 26,259 shares in the company, valued at approximately $11,500,916.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at approximately $1,121,052,771.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,172 shares of company stock worth $137,000,162 over the last three months. 5.70% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

AXON stock traded down $0.38 during midday trading on Thursday, hitting $433.45. 104,815 shares of the stock traded hands, compared to its average volume of 521,780. Axon Enterprise, Inc. has a 1-year low of $199.29 and a 1-year high of $440.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The stock’s fifty day simple moving average is $385.93 and its 200-day simple moving average is $330.03. The firm has a market cap of $32.76 billion, a P/E ratio of 114.47, a PEG ratio of 11.74 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXON. Barclays boosted their target price on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Northland Securities lifted their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird upped their target price on Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Bank of America assumed coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price for the company. Finally, 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $365.38.

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.