Axon Enterprise, Inc (NASDAQ:AXON) Shares Acquired by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its holdings in Axon Enterprise by 104.1%, owning 1,651 shares after purchasing an additional 842 shares, valued at approximately $868,000.
• Major analysts have raised their price targets for Axon Enterprise, with Bank of America increasing it from $750 to $895, and JMP Securities adjusting it from $725 to $825.
• Insider selling occurred recently, with President Joshua Isner selling 905 shares and CRO Cameron Brooks selling 3,000 shares, indicating a notable decrease in their ownership percentage.

Arkadios Wealth Advisors grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 104.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,651 shares of the biotechnology company's stock after acquiring an additional 842 shares during the quarter. Arkadios Wealth Advisors' holdings in Axon Enterprise were worth $868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. TCTC Holdings LLC increased its holdings in Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares during the period. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Axon Enterprise in the first quarter worth approximately $32,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Axon Enterprise in the 1st quarter valued at about $40,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

AXON traded up $122.24 on Tuesday, reaching $867.12. The stock had a trading volume of 2,532,998 shares, compared to its average volume of 631,794. The business's 50-day moving average price is $764.81 and its two-hundred day moving average price is $658.28. Axon Enterprise, Inc has a 12-month low of $286.19 and a 12-month high of $885.92. The company has a market cap of $67.51 billion, a P/E ratio of 214.10, a price-to-earnings-growth ratio of 83.03 and a beta of 1.36. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 7.10%. The company had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter last year, the firm posted $1.20 earnings per share. Axon Enterprise's revenue was up 32.6% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the sale, the director directly owned 4,829 shares of the company's stock, valued at $3,567,858.36. This trade represents a 21.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Joshua Isner sold 9,905 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total value of $7,310,187.15. Following the sale, the president owned 298,809 shares of the company's stock, valued at $220,530,006.27. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,642 shares of company stock worth $25,090,528. 5.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AXON shares. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday. The Goldman Sachs Group increased their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Bank of America upped their price target on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $820.00 to $870.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Barclays upped their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus target price of $810.38.

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.