Advisor Resource Council Takes Position in Axon Enterprise, Inc (NASDAQ:AXON)

Advisor Resource Council acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,023 shares of the biotechnology company’s stock, valued at approximately $1,590,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Brighton Jones LLC purchased a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. Principal Securities Inc. lifted its stake 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 during the last quarter. Global Retirement Partners LLC lifted its stake in Axon Enterprise by 23.1% in the fourth quarter. Global Retirement Partners LLC now owns 974 shares of the biotechnology company’s stock worth $579,000 after acquiring an additional 183 shares during the last quarter. Ieq Capital LLC lifted its stake in Axon Enterprise by 10.5% in the fourth quarter. Ieq Capital LLC now owns 3,149 shares of the biotechnology company’s stock worth $1,872,000 after acquiring an additional 298 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in Axon Enterprise by 12.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 877 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America lifted 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. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. The Goldman Sachs Group lifted 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. Needham & Company LLC lifted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Barclays boosted their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $699.55.

Axon Enterprise Trading Up 0.8%

Shares of Axon Enterprise stock opened at $777.32 on Friday. The company has a fifty day simple moving average of $692.15 and a 200-day simple moving average of $626.13. Axon Enterprise, Inc has a 12-month low of $279.02 and a 12-month high of $806.64. The stock has a market cap of $60.51 billion, a price-to-earnings ratio of 187.76, a PEG ratio of 88.73 and a beta of 1.29. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm 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. Axon Enterprise’s revenue for the quarter was up 31.3% on a year-over-year basis. On average, equities analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the transaction, the chief executive officer now owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua Isner sold 9,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $683.31, for a total transaction of $6,149,790.00. Following the transaction, the president now owns 308,714 shares of the company’s stock, valued at approximately $210,947,363.34. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,642 shares of company stock worth $30,500,428 in the last 90 days. 4.40% of the stock is owned by insiders.

Axon Enterprise Company 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.