Pacific Point Advisors LLC Buys Shares of 1,000 Axon Enterprise, Inc (NASDAQ:AXON)

Pacific Point Advisors LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000 shares of the biotechnology company's stock, valued at approximately $526,000.

Several other large investors also recently made changes to their positions in the stock. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise during the fourth quarter worth $30,000. Bartlett & CO. Wealth Management LLC boosted its holdings 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 worth $31,000 after purchasing an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Axon Enterprise during the first quarter worth $32,000. Alpine Bank Wealth Management acquired a new position in Axon Enterprise during the first quarter worth $40,000. Finally, Elequin Capital LP acquired a new position in Axon Enterprise during the fourth quarter worth $46,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON traded down $11.94 during trading hours on Tuesday, hitting $790.22. The company had a trading volume of 507,731 shares, compared to its average volume of 513,715. The firm has a market cap of $61.52 billion, a price-to-earnings ratio of 492.12, a PEG ratio of 92.34 and a beta of 1.29. The business has a fifty day moving average of $740.97 and a 200-day moving average of $637.30. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month high of $830.21. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company's revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. Equities analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction dated 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 directly owned 3,063,982 shares of the company's stock, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the transaction, the director directly owned 17,740 shares in the company, valued at approximately $13,482,400. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,642 shares of company stock valued at $30,500,428 in the last quarter. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Needham & Company LLC increased their price target 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 increased their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Wolfe Research initiated coverage on shares of Axon Enterprise in a research note on Monday. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $699.55.

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.