Merit Financial Group LLC Buys 8,956 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Merit Financial Group LLC grew its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 160.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,535 shares of the biotechnology company's stock after acquiring an additional 8,956 shares during the quarter. Merit Financial Group LLC's holdings in Axon Enterprise were worth $7,645,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AXON. NBC Securities Inc. raised its holdings in shares of Axon Enterprise by 119,666.7% during the 1st quarter. NBC Securities Inc. now owns 3,593 shares of the biotechnology company's stock valued at $1,889,000 after buying an additional 3,590 shares in the last quarter. Czech National Bank raised its holdings in shares of Axon Enterprise by 5.9% during the 1st quarter. Czech National Bank now owns 16,638 shares of the biotechnology company's stock valued at $8,751,000 after buying an additional 931 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Axon Enterprise by 3.7% during the 1st quarter. Rhumbline Advisers now owns 151,787 shares of the biotechnology company's stock valued at $79,832,000 after buying an additional 5,428 shares in the last quarter. Marion Wealth Management raised its holdings in shares of Axon Enterprise by 13.1% during the 1st quarter. Marion Wealth Management now owns 459 shares of the biotechnology company's stock valued at $241,000 after buying an additional 53 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its holdings in shares of Axon Enterprise by 2.4% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 4,164 shares of the biotechnology company's stock valued at $2,190,000 after buying an additional 96 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Up 1.1%

Shares of AXON traded up $8.36 during mid-day trading on Thursday, hitting $788.36. 681,854 shares of the company's stock traded hands, compared to its average volume of 734,273. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 1 year low of $276.92 and a 1 year high of $793.24. The firm has a market capitalization of $61.37 billion, a P/E ratio of 203.71, a PEG ratio of 5.17 and a beta of 1.24. The business's 50-day moving average price is $633.63 and its 200-day moving average price is $613.89.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share 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 for the quarter, compared to analyst estimates of $585.67 million. During the same period in the previous year, the company posted $1.15 earnings per share. The firm's revenue was up 31.3% on a year-over-year basis. As a group, sell-side analysts forecast that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In related news, Director Michael Garnreiter sold 87 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.00, for a total transaction of $66,120.00. Following the sale, the director now directly owns 24,653 shares in the company, valued at $18,736,280. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now directly owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,969 shares of company stock worth $29,909,594 over the last ninety days. 4.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Northcoast Research cut Axon Enterprise from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Bank of America lifted their price target on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research note on Wednesday. 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 note on Wednesday, May 14th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. 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 note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Axon Enterprise has a consensus rating of "Moderate Buy" and an average price target of $699.55.

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.