Advisor Resource Council Makes New Investment in Axon Enterprise, Inc (NASDAQ:AXON)

Advisor Resource Council acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,023 shares of the biotechnology company's stock, valued at approximately $1,590,000.

A number of other hedge funds have also recently modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $30,000. Elequin Capital LP purchased a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $46,000. CoreFirst Bank & Trust acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $59,000. Global Financial Private Client LLC boosted its holdings in Axon Enterprise by 11,100.0% during the first quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company's stock worth $59,000 after buying an additional 111 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in Axon Enterprise by 59.8% during the fourth quarter. Prestige Wealth Management Group LLC now owns 131 shares of the biotechnology company's stock worth $78,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insiders Place Their Bets

In related news, President Joshua Isner sold 905 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the completion of the sale, the president now owns 268,735 shares of the company's stock, valued at approximately $208,643,166.65. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julie A. Cullivan sold 657 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $700.00, for a total value of $459,900.00. Following the transaction, the director now directly owns 1,735 shares in the company, valued at $1,214,500. This trade represents a 27.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,642 shares of company stock valued at $30,500,428 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AXON. Bank of America upped their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. The Goldman Sachs Group increased their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays boosted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC increased their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $699.55.

Axon Enterprise Price Performance

NASDAQ AXON traded up $6.53 during mid-day trading on Friday, hitting $777.32. The stock had a trading volume of 1,181,999 shares, compared to its average volume of 514,378. The firm's 50 day moving average is $692.15 and its 200 day moving average is $625.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The stock has a market capitalization of $60.51 billion, a price-to-earnings ratio of 187.76, a PEG ratio of 89.48 and a beta of 1.29. Axon Enterprise, Inc has a twelve month low of $279.02 and a twelve month high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The business had revenue of $603.63 million during the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company's quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.