Integrated Advisors Network LLC Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Integrated Advisors Network LLC acquired a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,248 shares of the biotechnology company's stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company's stock valued at $5,019,886,000 after purchasing an additional 275,959 shares during the period. Geode Capital Management LLC raised its position in shares of Axon Enterprise by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock valued at $1,095,542,000 after buying an additional 65,097 shares during the last quarter. Capital World Investors lifted its stake in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares during the period. Alliancebernstein L.P. grew its position in Axon Enterprise by 273.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock worth $659,128,000 after buying an additional 812,337 shares in the last quarter. Finally, Norges Bank bought a new position in Axon Enterprise during the fourth quarter valued at about $482,081,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group boosted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Needham & Company LLC upped their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Bank of America raised 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. Finally, Northcoast Research lowered shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $699.55.

Axon Enterprise Price Performance

Shares of AXON traded down $0.02 during mid-day trading on Monday, reaching $780.61. The company had a trading volume of 470,489 shares, compared to its average volume of 717,558. The company has a market capitalization of $60.77 billion, a price-to-earnings ratio of 201.71, a P/E/G ratio of 5.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company's 50 day simple moving average is $675.00 and its 200 day simple moving average is $622.37. Axon Enterprise, Inc. has a 1-year low of $279.02 and a 1-year high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. The firm's revenue was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Analysts expect that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the transaction, the chief executive officer now directly owns 3,063,982 shares of the company's stock, valued at $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie A. Cullivan sold 657 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $700.00, for a total transaction of $459,900.00. Following the transaction, the director now directly owns 1,735 shares in the company, valued at $1,214,500. This trade represents a 27.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,737 shares of company stock valued at $29,797,795. 4.40% of the stock is currently owned by company insiders.

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.