Conestoga Capital Advisors LLC Sells 24,205 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Conestoga Capital Advisors LLC decreased its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 25.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 72,248 shares of the biotechnology company’s stock after selling 24,205 shares during the period. Conestoga Capital Advisors LLC’s holdings in Axon Enterprise were worth $42,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXON. Northwestern Mutual Wealth Management Co. raised its position in Axon Enterprise by 30.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 802 shares of the biotechnology company’s stock worth $236,000 after acquiring an additional 188 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Axon Enterprise by 53.4% during the 2nd quarter. Truist Financial Corp now owns 6,467 shares of the biotechnology company’s stock worth $1,903,000 after purchasing an additional 2,251 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Axon Enterprise by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 23,546 shares of the biotechnology company’s stock worth $6,928,000 after acquiring an additional 2,479 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Axon Enterprise in the 2nd quarter valued at $836,000. Finally, Czech National Bank raised its stake in Axon Enterprise by 8.2% during the third quarter. Czech National Bank now owns 14,625 shares of the biotechnology company’s stock worth $5,844,000 after acquiring an additional 1,107 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

AXON stock opened at $636.00 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The firm has a market cap of $48.50 billion, a price-to-earnings ratio of 164.34, a PEG ratio of 6.54 and a beta of 1.05. Axon Enterprise, Inc. has a one year low of $252.20 and a one year high of $698.67. The firm has a 50-day simple moving average of $619.63 and a two-hundred day simple moving average of $483.68.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXON. TD Cowen assumed coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a “buy” rating and a $700.00 target price for the company. Northland Securities raised their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Needham & Company LLC upped their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group lifted their target price on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Robert W. Baird increased their price objective on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.85.

Insider Buying and Selling

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the sale, the director now directly owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. This represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey C. Kunins sold 21,834 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $593.88, for a total transaction of $12,966,775.92. Following the transaction, the insider now directly owns 154,394 shares of the company’s stock, valued at $91,691,508.72. This represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,545 shares of company stock valued at $30,721,337 over the last 90 days. Insiders own 5.70% of the company’s stock.

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.