Exchange Traded Concepts LLC Raises Stock Position in Axon Enterprise, Inc (NASDAQ:AXON)

Exchange Traded Concepts LLC boosted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 71.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,459 shares of the biotechnology company's stock after acquiring an additional 1,025 shares during the period. Exchange Traded Concepts LLC's holdings in Axon Enterprise were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $480,000. Principal Securities Inc. grew its position in Axon Enterprise by 255.7% during the 4th quarter. Principal Securities Inc. now owns 1,085 shares of the biotechnology company's stock worth $645,000 after purchasing an additional 780 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Axon Enterprise by 23.5% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the biotechnology company's stock worth $755,000 after buying an additional 236 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Axon Enterprise by 127.0% in the fourth quarter. CIBC Asset Management Inc now owns 24,013 shares of the biotechnology company's stock worth $14,271,000 after buying an additional 13,435 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Axon Enterprise by 2.7% in the fourth quarter. Venturi Wealth Management LLC now owns 802 shares of the biotechnology company's stock worth $477,000 after buying an additional 21 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $770.79 on Thursday. The company's fifty day moving average price is $683.57 and its 200 day moving average price is $624.47. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $806.64. The company has a market capitalization of $60.01 billion, a PE ratio of 186.18, a price-to-earnings-growth ratio of 89.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The firm had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. During the same period last year, the firm earned $1.15 EPS. The company's quarterly revenue was up 31.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $771.81, for a total transaction of $57,885.75. Following the completion of the transaction, the chief accounting officer now directly owns 15,240 shares in the company, valued at approximately $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Joshua Isner sold 905 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the transaction, the president now owns 268,735 shares of the company's stock, valued at $208,643,166.65. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,642 shares of company stock worth $30,500,428 in the last ninety days. Company insiders own 4.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on AXON. Northcoast Research cut shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays lifted their price target on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC lifted their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $699.55.

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.

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