National Bank of Canada FI Acquires 26,236 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• The National Bank of Canada FI increased its stake in Axon Enterprise, owning 68,896 shares after acquiring an additional 26,236 shares, representing a 61.5% increase in holdings during the first quarter.
• Axon Enterprise reported earnings of $2.12 per share, surpassing analyst expectations of $1.54, with quarterly revenue increasing by 32.6% year-over-year to $668.54 million.
• Several brokerages have upgraded their ratings for Axon Enterprise, with Bank of America raising its price target from $895.00 to $1,000.00, underscoring positive sentiment among analysts regarding the company's stock performance.

National Bank of Canada FI lifted its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 61.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,896 shares of the biotechnology company's stock after purchasing an additional 26,236 shares during the period. National Bank of Canada FI owned 0.09% of Axon Enterprise worth $36,235,000 as of its most recent filing with the SEC.

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

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $842.50 on Friday. Axon Enterprise, Inc has a 1 year low of $346.71 and a 1 year high of $885.91. The firm has a 50 day moving average of $774.27 and a 200-day moving average of $665.08. 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 93.35 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. Axon Enterprise's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AXON. UBS Group restated a "neutral" rating and set a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 price target on Axon Enterprise and gave the company an "overweight" rating in a research note on Friday, July 11th. Wolfe Research began coverage on Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating on the stock. Bank of America boosted their price target on Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Barclays boosted their price target on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $837.69.

Insider Buying and Selling

In related news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the completion of the sale, the director owned 4,829 shares of the company's stock, valued at $3,567,858.36. This trade represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 9,905 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the sale, the president directly owned 298,809 shares of the company's stock, valued at approximately $220,530,006.27. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,642 shares of company stock valued at $25,090,528 in the last ninety days. 4.40% of the stock is owned by corporate insiders.

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.

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