WESPAC Advisors SoCal LLC Raises Stake in Axon Enterprise, Inc $AXON

WESPAC Advisors SoCal LLC increased its position in Axon Enterprise, Inc (NASDAQ:AXON) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,144 shares of the biotechnology company’s stock after buying an additional 1,393 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Axon Enterprise were worth $2,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AXON. Brighton Jones LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth $480,000. NewEdge Advisors LLC lifted its stake in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP boosted its position in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Axon Enterprise in the second quarter valued at about $284,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXON shares. Morgan Stanley set a $600.00 target price on Axon Enterprise in a report on Thursday, May 7th. UBS Group lowered their price objective on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Barclays dropped their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $712.75.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $423.40 on Friday. The stock has a market cap of $34.13 billion, a P/E ratio of 170.04, a price-to-earnings-growth ratio of 7.70 and a beta of 1.45. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $413.25 and a 200-day moving average of $485.61. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 earnings per share. On average, analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CRO Cameron Brooks sold 1,242 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. The trade was a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 38,989 shares of company stock worth $19,090,083. 4.20% of the stock is currently owned by insiders.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.