Vestmark Advisory Solutions Inc. Raises Holdings in Axon Enterprise, Inc $AXON

Vestmark Advisory Solutions Inc. increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 97.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,262 shares of the biotechnology company's stock after purchasing an additional 622 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Axon Enterprise were worth $664,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $1,110,000. Quotient Wealth Partners LLC purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $438,000. CX Institutional purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $115,000. GAMMA Investing LLC boosted its stake in Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock worth $765,000 after buying an additional 154 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Axon Enterprise by 5.1% during the first quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after buying an additional 46 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

AXON opened at $754.24 on Monday. The stock's 50-day moving average price is $773.85 and its 200 day moving average price is $670.41. Axon Enterprise, Inc has a 12-month low of $346.71 and a 12-month high of $885.91. The firm has a market cap of $59.21 billion, a price-to-earnings ratio of 186.23, a PEG ratio of 27.68 and a beta of 1.36. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced 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. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The company had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same period last year, the business posted $1.20 EPS. Axon Enterprise's revenue for the quarter was up 32.6% on a year-over-year basis. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity at Axon Enterprise

In related news, CRO Cameron Brooks sold 3,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the transaction, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. This trade represents a 13.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $750.10, for a total value of $5,919,039.10. Following the transaction, the insider owned 144,538 shares of the company's stock, valued at $108,417,953.80. This trade represents a 5.18% 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 worth $40,964,638 over the last ninety days. Company insiders own 5.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AXON shares. Needham & Company LLC set a $870.00 price objective on Axon Enterprise and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Bank of America boosted their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group reissued a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Finally, Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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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