Merit Financial Group LLC Has $13.27 Million Stock Position in Axon Enterprise, Inc $AXON

Merit Financial Group LLC boosted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 33.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,488 shares of the biotechnology company’s stock after buying an additional 4,647 shares during the quarter. Merit Financial Group LLC’s holdings in Axon Enterprise were worth $13,268,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Axon Enterprise in the 4th quarter worth approximately $480,000. Axiom Investors LLC DE acquired a new position in Axon Enterprise in the first quarter worth $93,088,000. Baird Financial Group Inc. grew its holdings in shares of Axon Enterprise by 5.9% during the first quarter. Baird Financial Group Inc. now owns 5,987 shares of the biotechnology company’s stock worth $3,149,000 after purchasing an additional 333 shares during the last quarter. Atreides Management LP acquired a new position in Axon Enterprise during the 1st quarter worth $33,083,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Axon Enterprise by 10.8% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 7,627 shares of the biotechnology company’s stock valued at $4,011,000 after buying an additional 746 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Axon Enterprise news, CFO Brittany Bagley sold 2,500 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $610.00, for a total value of $1,525,000.00. Following the transaction, the chief financial officer directly owned 91,092 shares of the company’s stock, valued at $55,566,120. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Joshua Isner sold 20,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $552.60, for a total value of $11,052,000.00. Following the transaction, the president owned 249,502 shares in the company, valued at $137,874,805.20. The trade was a 7.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,540 shares of company stock valued at $35,632,038 in the last ninety days. 5.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays reduced their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Piper Sandler lowered their target price on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday. Royal Bank Of Canada assumed coverage on shares of Axon Enterprise in a research report on Monday, November 17th. They issued an “outperform” rating and a $860.00 price objective on the stock. Finally, Zacks Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $802.71.

Axon Enterprise Stock Performance

AXON opened at $572.11 on Wednesday. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of 181.05, a PEG ratio of 133.34 and a beta of 1.40. The business has a 50 day moving average of $594.96 and a 200-day moving average of $697.64. Axon Enterprise, Inc has a 12-month low of $469.24 and a 12-month high of $885.91. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.46). The company had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The business’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. On average, equities research analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Axon Enterprise Company Profile

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.