IPG Investment Advisors LLC Purchases 489 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• IPG Investment Advisors LLC increased its holdings in Axon Enterprise by 28.1% in the first quarter, acquiring an additional 489 shares for a total value of approximately $1.17 million.
• Several other institutional investors also increased their stakes, with 79.08% of Axon Enterprise's stock now owned by hedge funds and institutional investors.
• A number of analysts have upgraded their price targets for Axon Enterprise, with a consensus rating of "Moderate Buy" and an average target price of $772.08.

IPG Investment Advisors LLC boosted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 28.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,230 shares of the biotechnology company's stock after buying an additional 489 shares during the quarter. IPG Investment Advisors LLC's holdings in Axon Enterprise were worth $1,173,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AXON. Brighton Jones LLC acquired a new position in Axon Enterprise during the 4th quarter valued at about $480,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Axon Enterprise by 697.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,357 shares of the biotechnology company's stock worth $4,372,000 after purchasing an additional 6,434 shares in the last quarter. World Investment Advisors bought a new position in shares of Axon Enterprise during the fourth quarter worth $454,000. Arete Wealth Advisors LLC bought a new position in shares of Axon Enterprise during the fourth quarter worth $583,000. Finally, Pitcairn Co. bought a new stake in Axon Enterprise in the 4th quarter valued at $411,000. 79.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AXON shares. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. JMP Securities boosted their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the stock a "buy" rating in a research note on Tuesday. Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday. Finally, Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Activity at Axon Enterprise

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 completion of the transaction, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Joshua Isner sold 905 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $776.39, for a total transaction of $702,632.95. Following the completion of the sale, the president directly owned 268,735 shares of the company's stock, valued at $208,643,166.65. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,642 shares of company stock worth $25,090,528 over the last three months. Company insiders own 4.40% of the company's stock.

Axon Enterprise Trading Down 3.3%

NASDAQ AXON traded down $28.47 during trading hours on Friday, reaching $842.50. The company had a trading volume of 664,261 shares, compared to its average volume of 708,595. The company has a current ratio of 2.95, a quick ratio of 2.62 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $66.14 billion, a P/E ratio of 208.02, a price-to-earnings-growth ratio of 19.36 and a beta of 1.36. The stock has a 50-day moving average of $772.30 and a 200 day moving average of $663.05. Axon Enterprise, Inc has a 1-year low of $346.71 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The business's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, research analysts anticipate 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.