Wealthedge Investment Advisors LLC bought a new stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,821 shares of the biotechnology company's stock, valued at approximately $1,677,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in AXON. Mutual Advisors LLC bought a new position in Axon Enterprise during the fourth quarter worth about $333,000. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $480,000. Geneos Wealth Management Inc. lifted its holdings in shares of Axon Enterprise by 630.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,847 shares of the biotechnology company's stock valued at $1,098,000 after purchasing an additional 1,594 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $525,000. Finally, Blue Trust Inc. lifted its holdings in shares of Axon Enterprise by 70.4% in the fourth quarter. Blue Trust Inc. now owns 496 shares of the biotechnology company's stock valued at $295,000 after purchasing an additional 205 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.
Axon Enterprise Price Performance
Shares of AXON stock traded up $13.34 during trading hours on Friday, reaching $743.63. The company's stock had a trading volume of 1,121,061 shares, compared to its average volume of 732,673. The firm's 50 day simple moving average is $620.57 and its 200-day simple moving average is $610.60. The company has a market capitalization of $57.89 billion, a price-to-earnings ratio of 192.15, a PEG ratio of 5.17 and a beta of 1.24. Axon Enterprise, Inc. has a fifty-two week low of $273.52 and a fifty-two week high of $755.05. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The firm had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. During the same quarter last year, the business posted $1.15 EPS. The company's revenue was up 31.3% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Barclays upped their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. JMP Securities reissued an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Finally, Needham & Company LLC increased their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $652.73.
View Our Latest Analysis on AXON
Insider Activity
In related news, Director Jeri Williams sold 307 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares of the company's stock, valued at $899,275.44. This trade represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joshua Isner sold 9,905 shares of Axon Enterprise stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total value of $7,310,187.15. Following the completion of the transaction, the president now directly owns 298,809 shares of the company's stock, valued at approximately $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,969 shares of company stock worth $23,127,314. Insiders own 5.70% of the company's stock.
Axon Enterprise Company Profile
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Free Report)
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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