Steward Partners Investment Advisory LLC Purchases 1,934 Shares of Axon Enterprise, Inc $AXON

Key Points

• Steward Partners Investment Advisory LLC increased its investment in Axon Enterprise by 12.4% during the first quarter, acquiring an additional 1,934 shares, bringing their total holdings to 17,533 shares valued at approximately $9.22 million.
• Axon Enterprise reported $2.12 EPS for the last quarter, exceeding analyst expectations of $1.54, with a year-over-year revenue growth of 32.6%.
• Several institutional investors like Vanguard Group and Capital World Investors have significantly increased their positions in Axon Enterprise, collectively owning over 79% of the company's stock.

Steward Partners Investment Advisory LLC lifted its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,533 shares of the biotechnology company's stock after buying an additional 1,934 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Axon Enterprise were worth $9,221,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after purchasing an additional 185,571 shares during the period. Capital World Investors boosted its position in Axon Enterprise by 86.4% during the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the period. Westfield Capital Management Co. LP boosted its position in Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the period. GAMMA Investing LLC boosted its position in Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the period. Finally, Northern Trust Corp boosted its position in Axon Enterprise by 19.8% during the fourth quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after purchasing an additional 118,469 shares during the period. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $754.24 on Monday. The business has a fifty day simple moving average of $773.85 and a 200 day simple moving average of $670.41. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $59.21 billion, a price-to-earnings ratio of 186.23, a PEG ratio of 27.68 and a beta of 1.36. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. Axon Enterprise's revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 7,891 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the transaction, the insider directly owned 144,538 shares in the company, valued at approximately $108,417,953.80. This represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,695 shares of company stock valued at $40,964,638 in the last ninety days. 5.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AXON shares. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Bank of America upped their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price for the company in a research report on Tuesday, August 5th. Barclays upped their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wolfe Research began coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $837.69.

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.

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