Trek Financial LLC Reduces Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Trek Financial LLC reduced its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 77.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,952 shares of the biotechnology company’s stock after selling 10,318 shares during the period. Trek Financial LLC’s holdings in Axon Enterprise were worth $1,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXON. Vanguard Group Inc. lifted its holdings in Axon Enterprise by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after buying an additional 275,959 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Axon Enterprise by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after acquiring an additional 65,097 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Axon Enterprise by 273.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after purchasing an additional 812,337 shares during the last quarter. Norges Bank acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $482,081,000. Finally, GQG Partners LLC purchased a new position in Axon Enterprise in the fourth quarter valued at approximately $478,349,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Analysts Set New Price Targets

AXON has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $600.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 26th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. JMP Securities reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Barclays reissued a “hold” rating on shares of Axon Enterprise in a report on Monday, March 10th. Finally, Northcoast Research downgraded Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $604.67.

Insider Activity

In related news, Director Jeri Williams sold 307 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $899,275.44. This represents a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.10% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $497.13 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The firm has a market cap of $38.09 billion, a price-to-earnings ratio of 128.46, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The firm’s fifty day moving average price is $582.26 and its 200 day moving average price is $555.87. Axon Enterprise, Inc. has a 1-year low of $273.52 and a 1-year high of $715.99.

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.