IFG Advisory LLC purchased a new stake in Axon Enterprise Inc (NASDAQ:AAXN) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 8,789 shares of the industrial products company’s stock, valued at approximately $601,000.
Several other large investors have also recently made changes to their positions in the stock. Meridian Investment Counsel Inc. bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $205,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $787,000. Stratos Wealth Partners LTD. bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $204,000. Private Advisor Group LLC bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $352,000. Finally, Victory Capital Management Inc. bought a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $25,229,000. Institutional investors and hedge funds own 81.80% of the company’s stock.
In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $68.00, for a total transaction of $68,000.00. Following the completion of the sale, the director now owns 38,261 shares of the company’s stock, valued at approximately $2,601,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas E. Klint sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $69.82, for a total value of $1,745,500.00. Following the sale, the insider now directly owns 104,341 shares of the company’s stock, valued at approximately $7,285,088.62. The disclosure for this sale can be found here. Insiders sold 38,197 shares of company stock valued at $2,471,656 over the last three months. 3.90% of the stock is owned by company insiders.
AAXN has been the subject of several research reports. Needham & Company LLC initiated coverage on shares of Axon Enterprise in a research note on Friday, July 20th. They set a “buy” rating and a $80.00 price target for the company. Zacks Investment Research cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. BidaskClub cut shares of Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Dougherty & Co cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Monday, August 6th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $69.00 price target on shares of Axon Enterprise in a research note on Wednesday, August 8th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $64.82.
NASDAQ:AAXN opened at $52.25 on Friday. Axon Enterprise Inc has a 1-year low of $20.81 and a 1-year high of $76.45. The firm has a market capitalization of $2.96 billion, a P/E ratio of 193.52, a PEG ratio of 3.95 and a beta of 1.00.
Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Tuesday, November 6th. The industrial products company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. Axon Enterprise had a net margin of 6.26% and a return on equity of 10.74%. The business had revenue of $104.84 million during the quarter, compared to analysts’ expectations of $103.06 million. During the same period last year, the business earned $0.01 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. On average, research analysts anticipate that Axon Enterprise Inc will post 0.51 EPS for the current fiscal year.
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Axon Enterprise Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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