Kovack Advisors Inc. Has $1.83 Million Stake in Axon Enterprise, Inc $AXON

Kovack Advisors Inc. cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 40.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,545 shares of the biotechnology company’s stock after selling 1,699 shares during the quarter. Kovack Advisors Inc.’s holdings in Axon Enterprise were worth $1,826,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth $480,000. NewEdge Advisors LLC grew its stake in Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC increased its holdings in Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP raised its position in shares of Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $284,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AXON shares. Barclays lowered their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Needham & Company LLC decreased their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley dropped their target price on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, UBS Group lowered their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $786.43.

Axon Enterprise Trading Up 2.6%

AXON opened at $441.12 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89. Axon Enterprise, Inc has a fifty-two week low of $396.41 and a fifty-two week high of $885.91. The company’s 50 day moving average price is $547.24 and its two-hundred day moving average price is $640.09. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 139.60, a PEG ratio of 12.96 and a beta of 1.48.

Insider Buying and Selling

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $552.60, for a total value of $11,052,000.00. Following the transaction, the president directly owned 249,502 shares of the company’s stock, valued at $137,874,805.20. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeri Williams sold 100 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $550.63, for a total value of $55,063.00. Following the completion of the sale, the director owned 1,316 shares in the company, valued at $724,629.08. The trade was a 7.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 48,040 shares of company stock valued at $27,249,338. Corporate insiders own 4.40% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.