SG Americas Securities LLC Grows Stake in Axon Enterprise, Inc $AXON

Key Points

• SG Americas Securities LLC increased its Axon Enterprise stake by 56.2% in the first quarter, buying 9,398 additional shares and bringing its total to 26,112 shares valued at about $11.1 million.
• Axon reported better-than-expected quarterly earnings on May 6, posting $1.61 EPS versus the $1.60 estimate and revenue of $807.35 million, up 33.7% year over year.
• Analysts remain largely bullish on the stock, with multiple firms reiterating buy-style ratings and the consensus price target at $712.75, even as several insiders recently sold shares.

SG Americas Securities LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 56.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,112 shares of the biotechnology company's stock after acquiring an additional 9,398 shares during the quarter. SG Americas Securities LLC's holdings in Axon Enterprise were worth $11,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC increased its position in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $30,000. AlphaCentric Advisors LLC bought a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $34,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at $35,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

AXON opened at $465.12 on Friday. The business has a fifty day moving average of $420.65 and a 200 day moving average of $482.08. The stock has a market cap of $37.49 billion, a P/E ratio of 186.79, a PEG ratio of 8.09 and a beta of 1.45. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. During the same quarter last year, the firm posted $1.47 earnings per share. The business's revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Insider Transactions at Axon Enterprise

In related news, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company's stock, valued at $21,125,200. This trade represents a 3.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Joshua Isner sold 13,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 38,989 shares of company stock valued at $19,090,083. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AXON shares. Piper Sandler restated an "overweight" rating and issued a $674.00 price target on shares of Axon Enterprise in a research report on Monday, June 15th. Citizens Jmp reissued a "market outperform" rating and issued a $700.00 target price on shares of Axon Enterprise in a research note on Thursday. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a report on Thursday, May 7th. Weiss Ratings raised shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average price target of $712.75.

Axon Enterprise 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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