5,000 Shares in Axon Enterprise, Inc $AXON Purchased by Sona Asset Management US LLC

Key Points

• Sona Asset Management bought 5,000 Axon Enterprise shares worth approximately $2.1 million, while institutional investors collectively own 79.08% of the company.
• Axon reported quarterly revenue of $807.35 million, up 33.7% year over year, and earnings of $1.61 per share, narrowly exceeding analyst expectations.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $725.25 versus the stock’s $502.34 price.

Sona Asset Management US LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the biotechnology company's stock, valued at approximately $2,123,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Styrax Capital LP acquired a new stake in shares of Axon Enterprise during the first quarter worth approximately $84,938,000. Quadcap Wealth Management LLC increased its stake in Axon Enterprise by 11.9% in the 1st quarter. Quadcap Wealth Management LLC now owns 1,468 shares of the biotechnology company's stock valued at $623,000 after buying an additional 156 shares during the period. Delta Global Management LP acquired a new position in Axon Enterprise in the 1st quarter valued at approximately $1,953,000. Insight Holdings Group LLC purchased a new stake in Axon Enterprise in the 1st quarter worth approximately $6,787,000. Finally, OMERS ADMINISTRATION Corp lifted its position in Axon Enterprise by 33.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 3,420 shares of the biotechnology company's stock worth $1,452,000 after buying an additional 854 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Price Performance

NASDAQ AXON opened at $502.34 on Monday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The stock's 50-day moving average is $483.26 and its two-hundred day moving average is $478.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The firm has a market cap of $40.49 billion, a P/E ratio of 201.74, a price-to-earnings-growth ratio of 10.25 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. On average, analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday. Barclays dropped their price target on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Needham & Company LLC increased their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Finally, Morgan Stanley set a $600.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and a consensus price target of $725.25.

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares in the company, valued at approximately $21,125,200. This trade represents a 3.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,989 shares of company stock worth $30,527,983 in the last three months. 4.20% of the stock is owned by insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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