Xponance Inc. Increases Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Xponance Inc. raised its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,939 shares of the biotechnology company's stock after buying an additional 470 shares during the quarter. Xponance Inc.'s holdings in Axon Enterprise were worth $8,909,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Axon Enterprise during the fourth quarter worth $480,000. Proficio Capital Partners LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at $78,414,000. Independent Advisor Alliance boosted its holdings in Axon Enterprise by 19.8% in the 4th quarter. Independent Advisor Alliance now owns 3,006 shares of the biotechnology company's stock valued at $1,787,000 after purchasing an additional 497 shares during the period. Citizens Financial Group Inc. RI bought a new stake in Axon Enterprise in the 4th quarter valued at about $284,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in Axon Enterprise by 67.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,898 shares of the biotechnology company's stock valued at $1,722,000 after purchasing an additional 1,171 shares during the period. Institutional investors own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of research reports. Bank of America increased their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Barclays increased their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Needham & Company LLC increased their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating for the company. Finally, The Goldman Sachs Group increased their target price on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $716.36.

Insiders Place Their Bets

In related news, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Cameron Brooks sold 3,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the sale, the executive directly owned 19,447 shares in the company, valued at approximately $14,405,559.72. This trade represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,642 shares of company stock valued at $30,500,428. Insiders own 5.70% of the company's stock.

Axon Enterprise Trading Down 0.6%

Shares of Axon Enterprise stock traded down $4.39 on Tuesday, reaching $745.87. The company had a trading volume of 373,297 shares, compared to its average volume of 706,047. The firm has a market cap of $58.07 billion, a price-to-earnings ratio of 180.16, a P/E/G ratio of 83.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The firm's 50-day moving average price is $752.67 and its two-hundred day moving average price is $641.14. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21.

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 business had revenue of $603.63 million during the quarter, compared to analysts' expectations of $585.67 million. During the same period in the prior year, the business earned $1.15 EPS. The business's revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

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.