Pier Capital LLC Decreases Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Pier Capital LLC has reduced its ownership in Axon Enterprise, Inc. (NASDAQ:AXON) by 47.4% during the fourth quarter, as reported in its most recent Form 13F filing with the SEC. After the reduction, the institutional investor holds 1,143 shares of the biotechnology company, down from 2,174 shares.

At the close of the reporting period, Pier Capital LLC's stake in Axon Enterprise was valued at approximately $679,000.

Other institutional investors have also adjusted their investments in Axon Enterprise. For example, PNC Financial Services Group Inc. increased its shareholding by 17.5% in the third quarter, resulting in a total of 5,627 shares valued at $2,249,000. Great Valley Advisor Group Inc. made a significant addition, boosting its stake by 306.1% to own 3,850 shares worth about $1,539,000 after acquiring 2,902 additional shares during this period.

Penserra Capital Management LLC also increased its holdings by 12.6%, owning 6,297 shares valued at $2,516,000 following the purchase of 706 shares. Swedbank AB and Centaurus Financial Inc. raised their stakes by 1.7% and 22.8%, respectively, with share values of $52,988,000 and $1,809,000 after their respective purchases. Currently, about 79.08% of Axon Enterprise's shares are owned by hedge funds and institutional investors.

Analyst Opinions

Shares of Axon Enterprise have been the focus of various research analyses. Analysts from Northcoast Research downgraded the stock from a "buy" rating to "neutral" on February 19th. In contrast, JMP Securities maintained an "outperform" rating in a note dated February 4th. Robert W. Baird raised their price target on the stock from $600.00 to $800.00, also giving it an "outperform" rating in their report from December 6th.

Conversely, Craig Hallum changed its recommendation from "buy" to a more cautious rating on March 10th, while Needham & Company LLC reiterated a "buy" rating, setting a target price of $600.00 in a note dated February 26th. Collectively, one analyst has given a sell rating, two have issued hold ratings, and eleven maintain buy ratings, resulting in a consensus rating of "Moderate Buy" with a price target averaging $604.67.

Insider Transactions

In recent insider activity, Director Jeri Williams sold 307 shares of Axon Enterprise on March 17th at an average price of $552.72, amounting to $169,685.04. Post-sale, she holds 1,627 shares valued at around $899,275.44, reflecting a 15.87% decline in her position.

Another director, Caitlin Elizabeth Kalinowski, sold 450 shares on January 2nd for an average price of $604.07, totaling $271,831.50. After this transaction, she retained 6,929 shares worth approximately $4,185,601.03, showing a 6.10% decrease in her ownership. Presently, corporate insiders own about 6.10% of Axon Enterprise's stock.

Stock Performance Overview

The shares of AXON opened at $572.52. The company has a market capitalization of $43.87 billion, a PE ratio of 147.94, and a P/E/G ratio of 5.17, alongside a beta of 1.12. Axon Enterprise has shown a 52-week low of $273.52 and a high of $715.99. The 50-day simple moving average stands at $591.98, with a 200-day average at $545.11. Financial metrics indicate a quick ratio of 2.63, a current ratio of 2.96, and a debt-to-equity ratio of 0.32.

About Axon Enterprise, Inc.

Axon Enterprise, Inc. is known for developing, manufacturing, and selling conducted energy devices (CEDs) under the TASER brand in both the United States and internationally. The company operates through two main segments: Software and Sensors, and TASER. Additionally, it provides hardware and cloud-based software solutions for law enforcement, enabling the secure capturing, storing, managing, sharing, and analyzing of video and other digital evidence.

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