HB Wealth Management LLC Raises Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• HB Wealth Management LLC increased its stake in Axon Enterprise, Inc by 40.2% in Q1, holding 2,020 shares worth approximately $1.06 million by the quarter's end.
• Insider sales occurred recently, including a 1,300 share sale by Director Caitlin Elizabeth Kalinowski, reducing her holdings by 21.21%. In total, insiders sold 34,642 shares worth over $25 million in the last 90 days.
• Several analysts have upgraded Axon Enterprise's target price recently, with JPMorgan raising it from $730 to $850, reflecting a consensus target price of $772.08 and an overall rating of "Moderate Buy."

HB Wealth Management LLC boosted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 40.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,020 shares of the biotechnology company's stock after purchasing an additional 579 shares during the quarter. HB Wealth Management LLC's holdings in Axon Enterprise were worth $1,062,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXON. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter worth $30,000. Bartlett & CO. Wealth Management LLC boosted its position in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Axon Enterprise in the 1st quarter worth approximately $32,000. Alpine Bank Wealth Management acquired a new position in Axon Enterprise in the 1st quarter valued at $40,000. Finally, Elequin Capital LP purchased a new position in shares of Axon Enterprise during the 4th quarter worth $46,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Activity

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the transaction, the director directly owned 4,829 shares of the company's stock, valued at approximately $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brittany Bagley sold 3,400 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the completion of the transaction, the chief financial officer owned 131,833 shares of the company's stock, valued at $92,283,100. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock worth $25,090,528 in the last ninety days. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Stock Down 3.3%

NASDAQ AXON traded down $24.81 during trading hours on Friday, hitting $730.68. The company had a trading volume of 75,464 shares, compared to its average volume of 693,343. The firm's 50 day moving average is $764.32 and its 200 day moving average is $655.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. Axon Enterprise, Inc has a fifty-two week low of $279.02 and a fifty-two week high of $830.21. The company has a market capitalization of $56.88 billion, a price-to-earnings ratio of 176.49, a P/E/G ratio of 83.44 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the prior year, the business earned $1.15 earnings per share. The company's revenue was up 31.3% compared to the same quarter last year. Sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXON. Bank of America increased their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC raised their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays boosted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, UBS Group started coverage on shares of Axon Enterprise in a report on Wednesday, July 16th. They issued a "neutral" rating and a $820.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $772.08.

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.