Axon Enterprise, Inc $AXON Stock Position Reduced by Kingsbury Capital Investment Advisors LLC

Kingsbury Capital Investment Advisors LLC decreased its position in Axon Enterprise, Inc (NASDAQ:AXON) by 51.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,052 shares of the biotechnology company’s stock after selling 1,100 shares during the quarter. Kingsbury Capital Investment Advisors LLC’s holdings in Axon Enterprise were worth $590,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Carlson Financial Inc. raised its position in shares of Axon Enterprise by 2.7% during the 2nd quarter. Carlson Financial Inc. now owns 16,039 shares of the biotechnology company’s stock valued at $8,992,000 after acquiring an additional 415 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Axon Enterprise by 55,955.7% in the second quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company’s stock worth $36,317,352,000 after purchasing an additional 64,666,282 shares during the period. Washington Trust Advisors Inc. increased its stake in Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Axon Enterprise during the second quarter valued at $236,000. Finally, Nvest Financial LLC raised its holdings in shares of Axon Enterprise by 10.4% during the second quarter. Nvest Financial LLC now owns 777 shares of the biotechnology company’s stock worth $436,000 after purchasing an additional 73 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Performance

AXON stock opened at $515.67 on Monday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $792.16. The stock has a market capitalization of $41.89 billion, a price-to-earnings ratio of 213.97, a PEG ratio of 10.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The stock’s fifty day moving average is $569.47 and its two-hundred day moving average is $486.64.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company’s quarterly revenue was up 35.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AXON shares. Piper Sandler raised their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. UBS Group increased their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Zacks Research cut shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $721.57.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick Smith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total value of $6,437,900.00. Following the completion of the transaction, the chief executive officer owned 3,040,997 shares in the company, valued at approximately $1,957,763,458.63. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,380 shares of company stock valued at $32,582,366 in the last ninety days. Company insiders own 4.20% 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.