Sugarloaf Wealth Management LLC Lowers Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Sugarloaf Wealth Management LLC trimmed its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511 shares of the biotechnology company’s stock after selling 42 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Axon Enterprise were worth $304,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AXON. Quent Capital LLC increased its holdings in Axon Enterprise by 1,875.0% in the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Axon Enterprise by 115.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group acquired a new position in Axon Enterprise in the 3rd quarter worth about $41,000. Planning Capital Management Corp boosted its position in Axon Enterprise by 83.3% during the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 55 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in Axon Enterprise in the third quarter valued at approximately $51,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Trading Down 1.2 %

AXON traded down $7.01 during mid-day trading on Friday, hitting $570.33. 225,608 shares of the stock were exchanged, compared to its average volume of 718,193. The firm’s fifty day moving average is $604.40 and its two-hundred day moving average is $446.90. Axon Enterprise, Inc. has a 1-year low of $246.99 and a 1-year high of $698.67. The company has a market cap of $43.49 billion, a PE ratio of 147.37, a PEG ratio of 14.19 and a beta of 1.04. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insider Activity

In related news, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total transaction of $12,123,000.00. Following the completion of the transaction, the president now directly owns 208,166 shares of the company’s stock, valued at $126,179,820.90. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total value of $437,980.00. Following the sale, the director now owns 26,259 shares in the company, valued at approximately $11,500,916.82. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,545 shares of company stock valued at $31,159,317. 6.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AXON. The Goldman Sachs Group upped their target price on Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen started coverage on shares of Axon Enterprise in a research report on Wednesday. They set a “buy” rating and a $700.00 price objective for the company. Robert W. Baird lifted their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Northland Securities upped their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $500.00 to $700.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $504.92.

About Axon Enterprise

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.