Quantinno Capital Management LP Increases Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Quantinno Capital Management increased its Axon Enterprise position by 9.3% in the first quarter, adding 3,123 shares for a total of 36,703 shares valued at approximately $15.6 million. Institutional investors collectively own 79.08% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and three Holds. Axon has a “Moderate Buy” consensus rating and an average price target of $725.25, including JPMorgan’s $755 target.
• Axon reported quarterly earnings of $1.61 per share, slightly exceeding estimates, while revenue rose 33.7% year over year to $807.35 million. Shares opened at $527.76, and insiders have sold nearly $30.5 million of stock over the past 90 days.

Quantinno Capital Management LP increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 9.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,703 shares of the biotechnology company's stock after purchasing an additional 3,123 shares during the period. Quantinno Capital Management LP's holdings in Axon Enterprise were worth $15,588,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV purchased a new stake in Axon Enterprise during the fourth quarter worth $28,000. Sound Income Strategies LLC increased its holdings in shares of Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 44 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise in the 4th quarter valued at $30,000. AlphaCentric Advisors LLC bought a new position in shares of Axon Enterprise in the 4th quarter worth $34,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise in the 2nd quarter worth $37,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AXON. Citizens Jmp reaffirmed a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Royal Bank Of Canada restated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $725.25.

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total transaction of $6,437,900.00. Following the sale, the chief executive officer directly owned 3,040,997 shares of the company's stock, valued at $1,957,763,458.63. 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 at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the sale, the director owned 3,632 shares in the company, valued at approximately $1,739,619.04. This represents a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,989 shares of company stock valued at $30,527,983 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

Shares of AXON stock opened at $527.76 on Monday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The stock's fifty day moving average price is $497.09 and its 200 day moving average price is $475.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The company has a market cap of $42.54 billion, a price-to-earnings ratio of 211.95, a price-to-earnings-growth ratio of 10.77 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm's revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business posted $1.47 earnings per share. On average, research analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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