Axon Enterprise, Inc $AXON Shares Bought by 180 Wealth Advisors LLC

Key Points

• 180 Wealth Advisors LLC increased its Axon Enterprise stake by 155.9% in the first quarter, ending with 10,181 shares valued at about $4.3 million.
• Several analysts remain bullish on AXON, with firms like Needham raising their price target to $750; the stock currently carries a consensus rating of Moderate Buy and a target price of $722.12.
• Axon reported better-than-expected quarterly results, including EPS of $1.61 and revenue of $807.35 million, though the stock fell 2.8% on Friday after the update.

180 Wealth Advisors LLC raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 155.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,181 shares of the biotechnology company's stock after purchasing an additional 6,203 shares during the period. 180 Wealth Advisors LLC's holdings in Axon Enterprise were worth $4,324,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AXON. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise during the fourth quarter worth about $28,000. Sound Income Strategies LLC boosted its holdings in Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after buying an additional 44 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in Axon Enterprise in the 4th quarter worth about $30,000. AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the 4th quarter worth approximately $34,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Axon Enterprise during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In other news, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total value of $6,437,900.00. Following the completion of the sale, the chief executive officer directly owned 3,040,997 shares of the company's stock, valued at $1,957,763,458.63. The trade was a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,989 shares of company stock worth $30,527,983 in the last 90 days. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on AXON shares. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a report on Thursday, May 7th. Zacks Research raised Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Citizens Jmp reissued a "market outperform" rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Needham & Company LLC raised their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Monday, July 6th. Finally, Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $722.12.

Axon Enterprise Trading Down 2.8%

Shares of AXON stock traded down $16.20 during trading on Friday, hitting $565.80. 762,731 shares of the stock traded hands, compared to its average volume of 1,119,821. The firm has a market capitalization of $45.60 billion, a P/E ratio of 227.23, a price-to-earnings-growth ratio of 11.54 and a beta of 1.38. 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's fifty day moving average price is $457.90 and its 200-day moving average price is $483.77. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

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

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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