Institute for Wealth Management LLC. Decreases Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Institute for Wealth Management LLC. decreased its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,750 shares of the biotechnology company’s stock after selling 139 shares during the quarter. Axon Enterprise makes up approximately 0.9% of Institute for Wealth Management LLC.’s portfolio, making the stock its 14th biggest position. Institute for Wealth Management LLC.’s holdings in Axon Enterprise were worth $5,360,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in Axon Enterprise during the fourth quarter worth approximately $32,000. Hollencrest Capital Management acquired a new position in shares of Axon Enterprise in the first quarter valued at approximately $29,000. ICA Group Wealth Management LLC acquired a new position in Axon Enterprise during the fourth quarter worth $25,000. Key Financial Inc grew its holdings in Axon Enterprise by 367.6% during the fourth quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 125 shares during the period. Finally, First Capital Advisors Group LLC. acquired a new position in Axon Enterprise during the second quarter worth $33,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

AXON has been the topic of a number of recent analyst reports. StockNews.com lowered Axon Enterprise from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Robert W. Baird boosted their target price on Axon Enterprise from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. JMP Securities boosted their target price on Axon Enterprise from $250.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group boosted their target price on Axon Enterprise from $297.00 to $339.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Argus assumed coverage on Axon Enterprise in a research report on Wednesday, March 13th. They set a “buy” rating and a $380.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $312.64.

Axon Enterprise Stock Down 1.7 %

Shares of AXON stock traded down $4.95 during trading hours on Friday, reaching $292.64. The company had a trading volume of 326,998 shares, compared to its average volume of 466,977. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. Axon Enterprise, Inc. has a twelve month low of $175.37 and a twelve month high of $329.87. The company has a market capitalization of $22.08 billion, a P/E ratio of 129.39 and a beta of 0.93. The stock’s fifty day simple moving average is $300.42 and its 200 day simple moving average is $257.30.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.29. The firm had revenue of $432.14 million during the quarter, compared to the consensus estimate of $418.97 million. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. As a group, sell-side analysts expect that Axon Enterprise, Inc. will post 2.43 earnings per share for the current fiscal year.

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.