Cornerstone Wealth Management LLC lessened its position in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 80.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,461 shares of the industrial products company’s stock after selling 44,433 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Axon Enterprise were worth $444,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in shares of Axon Enterprise during the 2nd quarter valued at approximately $401,000. Rhumbline Advisers increased its holdings in Axon Enterprise by 7.8% in the 2nd quarter. Rhumbline Advisers now owns 137,090 shares of the industrial products company’s stock valued at $8,661,000 after purchasing an additional 9,951 shares during the last quarter. Zacks Investment Management acquired a new stake in Axon Enterprise in the 2nd quarter valued at approximately $238,000. Strs Ohio acquired a new stake in Axon Enterprise in the 2nd quarter valued at approximately $341,000. Finally, Sei Investments Co. acquired a new stake in Axon Enterprise in the 2nd quarter valued at approximately $1,478,000. 81.80% of the stock is currently owned by hedge funds and other institutional investors.
AAXN has been the subject of several research reports. Imperial Capital upgraded shares of Axon Enterprise from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $62.00 in a report on Wednesday, August 8th. Zacks Investment Research downgraded shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. TheStreet downgraded shares of Axon Enterprise from a “b-” rating to a “c” rating in a report on Thursday, August 9th. LADENBURG THALM/SH SH downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating and set a $77.00 target price for the company. in a report on Monday, October 15th. Finally, Dougherty & Co downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $64.64.
NASDAQ:AAXN opened at $60.44 on Tuesday. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 223.85, a price-to-earnings-growth ratio of 4.77 and a beta of 1.00. Axon Enterprise Inc has a 52 week low of $20.57 and a 52 week high of $76.45.
Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.11. The business had revenue of $99.23 million during the quarter, compared to the consensus estimate of $95.74 million. Axon Enterprise had a net margin of 5.35% and a return on equity of 11.80%. Sell-side analysts forecast that Axon Enterprise Inc will post 0.51 EPS for the current year.
In other Axon Enterprise news, Director Mark W. Kroll sold 7,097 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $64.34, for a total value of $456,620.98. Following the completion of the transaction, the director now owns 24,105 shares in the company, valued at $1,550,915.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark W. Kroll sold 3,100 shares of the business’s stock in a transaction on Sunday, December 16th. The stock was sold at an average price of $22.85, for a total transaction of $70,835.00. Following the completion of the transaction, the director now owns 55,135 shares of the company’s stock, valued at approximately $1,259,834.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,197 shares of company stock valued at $2,471,656. Insiders own 3.50% of the company’s stock.
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About Axon Enterprise
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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