Wedbush Securities Inc. Sells 5,702 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Posted by Defense World Staff on Apr 18th, 2023

Wedbush Securities Inc. lessened its stake in Axon Enterprise, Inc. (NASDAQ:AXON – Get Rating) by 75.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,811 shares of the biotechnology company’s stock after selling 5,702 shares during the quarter. Wedbush Securities Inc.’s holdings in Axon Enterprise were worth $300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new stake in Axon Enterprise in the fourth quarter valued at about $41,000. SJS Investment Consulting Inc. acquired a new position in Axon Enterprise in the third quarter valued at about $30,000. Accurate Wealth Management LLC acquired a new position in Axon Enterprise in the fourth quarter valued at about $49,000. IFP Advisors Inc grew its stake in Axon Enterprise by 36.8% in the third quarter. IFP Advisors Inc now owns 364 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Finally, Covestor Ltd grew its stake in Axon Enterprise by 1,125.7% in the first quarter. Covestor Ltd now owns 429 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 394 shares during the period. Institutional investors own 75.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AXON. Robert W. Baird boosted their target price on Axon Enterprise from $200.00 to $237.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Credit Suisse Group boosted their target price on Axon Enterprise from $237.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, April 11th. JPMorgan Chase & Co. cut Axon Enterprise from an “overweight” rating to a “neutral” rating and set a $224.00 price objective for the company. in a research report on Thursday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of Axon Enterprise in a research report on Thursday, April 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $235.00 price objective on shares of Axon Enterprise in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $227.36.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $225.57 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 3.00 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $211.38 and its two-hundred day moving average price is $183.59. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 110.57 and a beta of 0.95. Axon Enterprise, Inc. has a 12-month low of $82.49 and a 12-month high of $229.00.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 96,575 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $190.49, for a total value of $18,396,571.75. Following the sale, the chief executive officer now owns 2,748,153 shares in the company, valued at $523,495,664.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Axon Enterprise news, CEO Patrick W. Smith sold 96,575 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $190.49, for a total value of $18,396,571.75. Following the sale, the chief executive officer now owns 2,748,153 shares in the company, valued at $523,495,664.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $185.06, for a total value of $240,578.00. Following the completion of the sale, the chief executive officer now owns 2,279,570 shares in the company, valued at approximately $421,857,224.20. The disclosure for this sale can be found here. Insiders have sold 351,988 shares of company stock worth $69,668,242 over the last 90 days. Company insiders own 6.90% of the company’s stock.

Axon Enterprise Company Profile

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Axon Enterprise, Inc engages in the development, manufacture, and sale of conducted electrical weapons for personal defense. It operates through the TASER segment and Software and Sensors segment. The TASER segment sells conducted electrical weapons, accessories, and other related products and services.