Axon Enterprise, Inc. (NASDAQ:AXON) Holdings Raised by Tobam

Tobam lifted its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 270.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,969 shares of the biotechnology company’s stock after acquiring an additional 3,628 shares during the period. Tobam’s holdings in Axon Enterprise were worth $2,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Savant Capital LLC raised its position in Axon Enterprise by 5.7% in the fourth quarter. Savant Capital LLC now owns 1,080 shares of the biotechnology company’s stock worth $642,000 after acquiring an additional 58 shares in the last quarter. Principal Securities Inc. raised its position in Axon Enterprise by 255.7% in the fourth quarter. Principal Securities Inc. now owns 1,085 shares of the biotechnology company’s stock worth $645,000 after acquiring an additional 780 shares in the last quarter. Empowered Funds LLC raised its position in Axon Enterprise by 89.2% in the fourth quarter. Empowered Funds LLC now owns 1,871 shares of the biotechnology company’s stock worth $1,112,000 after acquiring an additional 882 shares in the last quarter. Xponance Inc. raised its position in Axon Enterprise by 3.5% in the fourth quarter. Xponance Inc. now owns 16,469 shares of the biotechnology company’s stock worth $9,788,000 after acquiring an additional 560 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in Axon Enterprise in the fourth quarter worth about $480,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the sale, the chief executive officer now directly owns 3,063,982 shares in the company, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Garnreiter sold 87 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.00, for a total value of $66,120.00. Following the completion of the sale, the director now owns 24,653 shares of the company’s stock, valued at approximately $18,736,280. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,969 shares of company stock valued at $29,909,594 in the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Axon Enterprise Trading Down 0.4%

NASDAQ:AXON opened at $775.20 on Friday. 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, Inc. has a fifty-two week low of $279.02 and a fifty-two week high of $806.64. The stock’s 50-day moving average is $663.94 and its two-hundred day moving average is $620.60. The stock has a market cap of $60.35 billion, a PE ratio of 200.31, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter in the previous year, the business posted $1.15 EPS. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, equities research analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target 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. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, Bank of America lifted their price target on Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. One investment 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, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $699.55.

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.