Independent Financial Group LLC Takes $1.16 Million Position in Axon Enterprise, Inc $AXON

Key Points

• Independent Financial Group LLC bought a new position in Axon Enterprise during the first quarter, acquiring 2,727 shares worth about $1.16 million.
• Axon Enterprise reported better-than-expected quarterly results, with EPS of $1.61 versus $1.60 expected and revenue of $807.35 million, up 33.7% from a year earlier.
• Insider selling and mixed analyst sentiment were also notable: executives sold shares last quarter, while analysts still hold a consensus Moderate Buy rating with an average price target of $725.25.

Independent Financial Group LLC purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,727 shares of the biotechnology company's stock, valued at approximately $1,158,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evergreen Capital Management LLC grew its position in Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after acquiring an additional 15 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Axon Enterprise by 5.2% during the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company's stock valued at $220,000 after purchasing an additional 19 shares during the period. Synergy Financial Group LTD grew its holdings in shares of Axon Enterprise by 1.4% in the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock worth $996,000 after purchasing an additional 19 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Axon Enterprise by 1.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company's stock worth $1,350,000 after purchasing an additional 19 shares during the last quarter. Finally, Certuity LLC grew its holdings in shares of Axon Enterprise by 5.1% in the fourth quarter. Certuity LLC now owns 474 shares of the biotechnology company's stock worth $269,000 after purchasing an additional 23 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Activity at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares of the company's stock, valued at $24,855,000. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares of the company's stock, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 over the last quarter. 4.20% of the stock is owned by insiders.

Axon Enterprise Stock Up 3.4%

Shares of Axon Enterprise stock opened at $527.48 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The stock has a market cap of $42.51 billion, a price-to-earnings ratio of 211.84, a PEG ratio of 10.41 and a beta of 1.38. The firm's 50-day moving average is $474.33 and its two-hundred day moving average is $480.87. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. During the same quarter in the previous year, the business posted $1.47 EPS. The company's quarterly revenue was up 33.7% compared to the same quarter last year. As a group, research analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research note on Thursday, May 7th. Piper Sandler raised their target price on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research note on Thursday, May 7th. Finally, UBS Group lowered their price target on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $725.25.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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