IPG Investment Advisors LLC Raises Stock Position in 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 grew its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 28.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,230 shares of the biotechnology company's stock after buying an additional 489 shares during the period. IPG Investment Advisors LLC's holdings in Axon Enterprise were worth $1,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC grew its stake in shares of Axon Enterprise by 75.0% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after buying an additional 24 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise during the fourth quarter valued at $30,000. Bartlett & CO. Wealth Management LLC increased its position in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise during the first quarter valued at $32,000. Finally, Alpine Bank Wealth Management bought a new position in Axon Enterprise during the first quarter valued at $40,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axon Enterprise

In other news, Director Michael Garnreiter sold 5,913 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the sale, the director owned 17,740 shares of the company's stock, valued at approximately $13,482,400. This represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $738.84, for a total transaction of $960,492.00. Following the completion of the sale, the director directly owned 4,829 shares of the company's stock, valued at $3,567,858.36. The trade was a 21.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,642 shares of company stock worth $25,090,528. Insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AXON shares. JPMorgan Chase & Co. boosted their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Wolfe Research started coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating on the stock. JMP Securities boosted their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Bank of America boosted their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $772.08.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $742.47 on Monday. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The stock's fifty day moving average price is $764.54 and its 200-day moving average price is $657.23. The firm has a market cap of $57.80 billion, a P/E ratio of 179.34, a P/E/G ratio of 82.76 and a beta of 1.36. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month 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 (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million for 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 firm's quarterly revenue was up 31.3% on a year-over-year basis. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise 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.

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