Strategic Advisors LLC Increases Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Strategic Advisors LLC raised its position in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 372.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,016 shares of the biotechnology company's stock after purchasing an additional 1,589 shares during the period. Strategic Advisors LLC's holdings in Axon Enterprise were worth $1,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter worth $30,000. Elequin Capital LP acquired a new stake in shares of Axon Enterprise in the 4th quarter worth $46,000. CoreFirst Bank & Trust acquired a new stake in shares of Axon Enterprise in the 4th quarter worth $59,000. Global Financial Private Client LLC increased its stake in shares of Axon Enterprise by 11,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 111 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its stake in shares of Axon Enterprise by 59.8% in the 4th quarter. Prestige Wealth Management Group LLC now owns 131 shares of the biotechnology company's stock worth $78,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Craig Hallum downgraded Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Barclays raised their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Needham & Company LLC raised their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average target price of $699.55.

Insider Activity

In other news, CAO Jennifer H. Mak sold 75 shares of Axon Enterprise stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the transaction, the chief accounting officer now owns 15,240 shares in the company, valued at approximately $11,762,384.40. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 3,400 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total value of $2,380,000.00. Following the sale, the chief financial officer now owns 131,833 shares of the company's stock, valued at approximately $92,283,100. The trade was a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,737 shares of company stock worth $29,797,795. 4.40% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $780.61 on Tuesday. The business has a 50-day moving average of $675.00 and a 200 day moving average of $622.37. Axon Enterprise, Inc. has a 12 month low of $279.02 and a 12 month high of $806.64. The stock has a market capitalization of $60.77 billion, a price-to-earnings ratio of 201.71, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million during the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business's quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. As a group, sell-side analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current year.

Axon Enterprise Company 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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