Axon Enterprise, Inc $AXON Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Axon Enterprise by 20.3%, now owning 421,728 shares worth around $221.8 million.
• Axon Enterprise reported an EPS of $2.12 for the last quarter, exceeding estimates significantly with a revenue increase of 32.6% year-over-year.
• Several analysts have set new price targets for Axon, with Bank of America raising its target to $1,000.00 and the stock currently holding a consensus rating of "Moderate Buy".

Raymond James Financial Inc. lowered its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,728 shares of the biotechnology company's stock after selling 107,424 shares during the quarter. Raymond James Financial Inc. owned 0.54% of Axon Enterprise worth $221,808,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the 4th quarter worth about $480,000. Townsquare Capital LLC increased its position in shares of Axon Enterprise by 40.0% in the 4th quarter. Townsquare Capital LLC now owns 913 shares of the biotechnology company's stock worth $542,000 after purchasing an additional 261 shares during the last quarter. United Capital Financial Advisors LLC increased its position in shares of Axon Enterprise by 22.7% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,185 shares of the biotechnology company's stock worth $704,000 after purchasing an additional 219 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Axon Enterprise by 13.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,626 shares of the biotechnology company's stock worth $966,000 after purchasing an additional 192 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Axon Enterprise by 8.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 51,286 shares of the biotechnology company's stock worth $30,480,000 after purchasing an additional 3,799 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Buying and Selling

In related news, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the purchase, the director owned 237,938 shares in the company, valued at approximately $176,074,120. The trade was a 0.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the completion of the sale, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,695 shares of company stock worth $40,964,638. Company insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AXON. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research report on Tuesday, August 5th. Barclays boosted their target price 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. Bank of America boosted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a research report on Tuesday, August 5th. Finally, UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Trading Up 0.6%

Axon Enterprise stock opened at $754.24 on Monday. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $773.85 and a two-hundred day moving average price of $670.41. The firm has a market capitalization of $59.21 billion, a price-to-earnings ratio of 186.23, a PEG ratio of 27.68 and a beta of 1.36. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise's revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current 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.

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