McBroom & Associates LLC Takes Position in Axon Enterprise, Inc. (NASDAQ:AXON)

McBroom & Associates LLC purchased a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,189 shares of the biotechnology company's stock, valued at approximately $1,677,000. Axon Enterprise accounts for about 1.0% of McBroom & Associates LLC's portfolio, making the stock its 25th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 275,959 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock valued at $1,095,542,000 after buying an additional 65,097 shares during the period. Capital World Investors lifted its holdings in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after buying an additional 812,337 shares during the period. Finally, Norges Bank acquired a new position in shares of Axon Enterprise in the 4th quarter valued at about $482,081,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded up $5.43 on Friday, hitting $780.63. The company's stock had a trading volume of 358,906 shares, compared to its average volume of 719,761. Axon Enterprise, Inc. has a 1 year low of $279.02 and a 1 year high of $806.64. The firm has a fifty day moving average price of $669.47 and a 200-day moving average price of $621.53. 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 company has a market capitalization of $60.77 billion, a price-to-earnings ratio of 201.71, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period in the previous year, the business earned $1.15 EPS. Axon Enterprise's quarterly revenue was up 31.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AXON. Needham & Company LLC boosted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Northcoast Research cut Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Barclays boosted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group lifted their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $699.55.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 307 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the sale, the director now directly owns 1,627 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares of the company's stock, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,969 shares of company stock worth $29,909,594. Corporate insiders own 4.40% of the company's stock.

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.