Wealthfront Advisers LLC Buys 4,962 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Wealthfront Advisers LLC lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 442.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,084 shares of the biotechnology company's stock after buying an additional 4,962 shares during the period. Wealthfront Advisers LLC's holdings in Axon Enterprise were worth $3,200,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise in the 4th quarter worth about $30,000. Bartlett & CO. Wealth Management LLC grew its position in Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Axon Enterprise in the 1st quarter worth about $32,000. Alpine Bank Wealth Management bought a new position in Axon Enterprise in the 1st quarter worth about $40,000. Finally, Elequin Capital LP bought a new position in Axon Enterprise in the 4th quarter worth about $46,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Up 1.4%

AXON stock traded up $10.23 during midday trading on Friday, reaching $756.09. The company had a trading volume of 404,179 shares, compared to its average volume of 602,176. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $58.86 billion, a P/E ratio of 182.63, a PEG ratio of 87.03 and a beta of 1.29. The company has a 50 day moving average of $763.54 and a two-hundred day moving average of $645.97.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the prior year, the firm earned $1.15 EPS. The company's revenue was up 31.3% compared to the same quarter last year. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, Director Michael Garnreiter sold 5,913 shares of the 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 transaction, the director owned 17,740 shares in the company, valued at $13,482,400. This represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the completion of the transaction, the chief financial officer owned 131,833 shares in the company, valued at $92,283,100. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,642 shares of company stock worth $30,500,428 over the last quarter. 4.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group upped their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Barclays increased their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC increased their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, UBS Group started coverage on shares of Axon Enterprise in a research note on Wednesday. They set a "neutral" rating and a $820.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $763.75.

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.