Axon Enterprise, Inc $AXON Holdings Lifted by Pine Valley Investments Ltd Liability Co

Key Points

• Pine Valley Investments increased its Axon Enterprise stake by 58% in the first quarter, bringing its holdings to 4,901 shares valued at approximately $2.08 million. Institutional investors collectively own 79.08% of the company.
• Analysts remain broadly bullish, with 15 Buy ratings and three Holds; Axon has a “Moderate Buy” consensus rating and an average price target of $725.25.
• Axon reported quarterly revenue of $807.35 million, up 33.7% year over year, and EPS of $1.61, narrowly exceeding estimates. The stock opened at $575.88, while insiders sold nearly $30.5 million of shares during the quarter.

Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 58.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,901 shares of the biotechnology company's stock after buying an additional 1,799 shares during the period. Pine Valley Investments Ltd Liability Co's holdings in Axon Enterprise were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC boosted its stake in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after buying an additional 44 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at $30,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at $34,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Axon Enterprise during the 2nd quarter valued at $37,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXON has been the topic of a number of research reports. Citizens Jmp reaffirmed a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Needham & Company LLC boosted their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Finally, Piper Sandler raised their price target on Axon Enterprise from $674.00 to $724.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $725.25.

Axon Enterprise Stock Performance

Shares of AXON opened at $575.88 on Tuesday. The firm has a market cap of $46.42 billion, a price-to-earnings ratio of 231.28, a price-to-earnings-growth ratio of 10.77 and a beta of 1.39. The company's fifty day moving average is $500.89 and its 200-day moving average is $475.06. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

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

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 20,000 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares of the company's stock, valued at $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 52,813 shares of the company's stock, valued at $21,125,200. This represents a 3.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 58,989 shares of company stock valued at $30,527,983. Insiders own 4.20% of the company's stock.

About Axon Enterprise

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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