Townsquare Capital LLC Raises Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Townsquare Capital LLC increased its holdings in Axon Enterprise, Inc. by 119.9% during the 1st quarter, now owning 2,008 shares valued at over $1 million.
• Insider sales included the Chief Revenue Officer and President selling a combined total of 18,919 shares recently, reflecting a notable decrease in their ownership positions.
• Despite recent insider selling, analysts remain optimistic, with the consensus price target for Axon Enterprise now at $837.69 and a majority rating the stock as a “Moderate Buy.”

Townsquare Capital LLC grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 119.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,008 shares of the biotechnology company's stock after buying an additional 1,095 shares during the quarter. Townsquare Capital LLC's holdings in Axon Enterprise were worth $1,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AXON. TCTC Holdings LLC lifted its stake in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after buying an additional 24 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $30,000. Bartlett & CO. Wealth Management LLC lifted its position 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 worth $31,000 after purchasing an additional 33 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Axon Enterprise in the 1st quarter worth about $32,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Axon Enterprise in the 1st quarter worth about $40,000. Institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXON. Bank of America lifted their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. JMP Securities boosted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research note on Tuesday, August 5th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a research note on Tuesday, August 5th. Finally, Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hadi Partovi purchased 1,358 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders have sold 53,695 shares of company stock worth $40,964,638 in the last ninety days. Company insiders own 5.70% of the company's stock.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock traded up $34.25 during midday trading on Monday, hitting $788.49. The company had a trading volume of 470,603 shares, compared to its average volume of 709,911. Axon Enterprise, Inc has a 12-month low of $346.71 and a 12-month high of $885.91. 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 stock has a market cap of $61.90 billion, a price-to-earnings ratio of 194.69, a PEG ratio of 27.68 and a beta of 1.36. The company has a fifty day simple moving average of $773.85 and a 200 day simple moving average of $670.41.

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 for the quarter, beating the consensus estimate 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%. The business's quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. As a group, analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Company 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.