Axon Enterprise, Inc $AXON Shares Acquired by McBroom & Associates LLC

McBroom & Associates LLC increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 131.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,384 shares of the biotechnology company’s stock after buying an additional 4,195 shares during the quarter. Axon Enterprise accounts for about 2.5% of McBroom & Associates LLC’s investment portfolio, making the stock its 18th biggest holding. McBroom & Associates LLC’s holdings in Axon Enterprise were worth $5,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. acquired a new stake in shares of Axon Enterprise in the second quarter valued at about $214,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Axon Enterprise by 3.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock valued at $132,349,000 after purchasing an additional 5,953 shares during the last quarter. Wealthedge Investment Advisors LLC lifted its position in Axon Enterprise by 180.7% during the second quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock worth $997,000 after buying an additional 775 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in Axon Enterprise by 11.7% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,938 shares of the biotechnology company’s stock worth $4,916,000 after buying an additional 624 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Axon Enterprise by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock valued at $7,399,515,000 after buying an additional 305,252 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $870.00 price objective on shares of Axon Enterprise in a research report on Wednesday, September 24th. The Goldman Sachs Group reduced their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Royal Bank Of Canada started coverage on Axon Enterprise in a research note on Monday, November 17th. They set an “outperform” rating and a $860.00 target price for the company. UBS Group lowered their price target on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Piper Sandler reduced their price objective on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $805.71.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $551.92, for a total transaction of $5,519,200.00. Following the completion of the transaction, the chief executive officer directly owned 3,110,997 shares of the company’s stock, valued at approximately $1,717,021,464.24. This represents a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brittany Bagley sold 2,500 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $610.00, for a total transaction of $1,525,000.00. Following the completion of the sale, the chief financial officer directly owned 91,092 shares in the company, valued at approximately $55,566,120. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,540 shares of company stock worth $34,684,738 in the last three months. 4.40% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Down 0.2%

Shares of Axon Enterprise stock opened at $636.04 on Friday. Axon Enterprise, Inc has a 52-week low of $469.24 and a 52-week high of $885.91. The company has a 50 day moving average of $571.18 and a 200 day moving average of $682.23. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $50.19 billion, a P/E ratio of 201.28, a P/E/G ratio of 20.02 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last posted 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). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. During the same period last year, the company earned $1.45 EPS. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. As a group, research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Axon Enterprise 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.