Strategic Advocates LLC Invests $995,000 in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Strategic Advocates LLC made a significant investment of $995,000 in Axon Enterprise, acquiring 1,892 shares during the first quarter of the year.
• Insider transactions included the sale of 34,642 shares by company executives, totalling approximately $25 million, indicating a reduction in their ownership stakes.
• Axon Enterprise reported a 31.3% growth in quarterly revenue, reaching $603.63 million, and exceeding earnings estimates with an EPS of $1.41.

Strategic Advocates LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,892 shares of the biotechnology company's stock, valued at approximately $995,000.

Other large investors have also recently bought and sold shares of the company. Pinion Investment Advisors LLC boosted its stake in shares of Axon Enterprise by 3.0% in the 1st quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock valued at $341,000 after purchasing an additional 19 shares in the last quarter. Kentucky Retirement Systems boosted its stake in shares of Axon Enterprise by 0.4% in the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock valued at $2,605,000 after purchasing an additional 19 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Axon Enterprise by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock valued at $1,306,000 after purchasing an additional 19 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Axon Enterprise by 0.5% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,561 shares of the biotechnology company's stock valued at $1,873,000 after purchasing an additional 19 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its stake in shares of Axon Enterprise by 4.6% in the 1st quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company's stock valued at $237,000 after purchasing an additional 20 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays lifted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. JMP Securities lifted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group lifted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, UBS Group assumed coverage on shares of Axon Enterprise in a research report on Wednesday, July 16th. They set a "neutral" rating and a $820.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $772.08.

Axon Enterprise Stock Up 0.3%

Shares of NASDAQ AXON traded up $2.41 during trading on Monday, hitting $744.88. 765,990 shares of the company traded hands, compared to its average volume of 696,703. The firm has a market capitalization of $57.99 billion, a price-to-earnings ratio of 179.92, a P/E/G ratio of 82.76 and a beta of 1.36. The business's fifty day moving average is $764.54 and its 200 day moving average is $657.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. Axon Enterprise, Inc has a fifty-two week low of $279.02 and a fifty-two week high of $830.21.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.69). Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. Equities research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $771.81, for a total transaction of $57,885.75. Following the completion of the sale, the chief accounting officer owned 15,240 shares in the company, valued at approximately $11,762,384.40. The trade was a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 5,913 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the sale, the director owned 17,740 shares of the company's stock, valued at $13,482,400. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock worth $25,090,528 over the last 90 days. 5.70% of the stock is owned by company insiders.

About Axon Enterprise

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.