Praxis Investment Management Inc. Increases Stock Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Praxis Investment Management Inc. raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 74.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the biotechnology company's stock after buying an additional 1,150 shares during the quarter. Praxis Investment Management Inc.'s holdings in Axon Enterprise were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $480,000. Principal Securities Inc. lifted its stake in shares of Axon Enterprise by 255.7% in the 4th quarter. Principal Securities Inc. now owns 1,085 shares of the biotechnology company's stock valued at $645,000 after purchasing an additional 780 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Axon Enterprise by 23.1% in the 4th quarter. Global Retirement Partners LLC now owns 974 shares of the biotechnology company's stock valued at $579,000 after purchasing an additional 183 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Axon Enterprise by 10.5% in the 4th quarter. Ieq Capital LLC now owns 3,149 shares of the biotechnology company's stock valued at $1,872,000 after purchasing an additional 298 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Axon Enterprise by 12.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 877 shares of the biotechnology company's stock valued at $521,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise 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 transaction, the chief executive officer now directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Garnreiter sold 87 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.00, for a total value of $66,120.00. Following the transaction, the director now owns 24,653 shares in the company, valued at approximately $18,736,280. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,642 shares of company stock worth $30,500,428. 5.70% of the stock is currently owned by company insiders.

Axon Enterprise Stock Up 0.8%

NASDAQ AXON traded up $6.53 on Friday, reaching $777.32. 1,181,999 shares of the stock traded hands, compared to its average volume of 514,378. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. The company has a fifty day moving average price of $692.15 and a 200-day moving average price of $625.26. The company has a market cap of $60.51 billion, a price-to-earnings ratio of 187.76, a PEG ratio of 89.48 and a beta of 1.29. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The business had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. During the same period last year, the business posted $1.15 EPS. The business's revenue was up 31.3% compared to the same quarter last year. As a group, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Needham & Company LLC raised 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. Barclays raised their price target on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group raised 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. Finally, Bank of America raised 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, June 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $699.55.

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.