NewEdge Wealth LLC Makes New Investment in Axon Enterprise, Inc $AXON

NewEdge Wealth LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,166 shares of the biotechnology company’s stock, valued at approximately $4,017,000.

Other hedge funds have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise in the 4th quarter worth $28,000. Camelot Portfolios LLC purchased a new position in Axon Enterprise during the fourth quarter valued at $30,000. AlphaCentric Advisors LLC purchased a new position in Axon Enterprise during the fourth quarter valued at $34,000. Darwin Wealth Management LLC purchased a new position in Axon Enterprise during the second quarter valued at $37,000. Finally, Strive Financial Group LLC bought a new stake in Axon Enterprise during the fourth quarter valued at about $41,000. Institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

AXON has been the subject of a number of analyst reports. Piper Sandler upped their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Insider Buying and Selling

In other news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total transaction of $800,000.00. Following the sale, the insider owned 52,813 shares in the company, valued at $21,125,200. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 68,989 shares of company stock worth $36,016,932 in the last quarter. 4.20% of the stock is owned by insiders.

Axon Enterprise Trading Up 4.2%

Shares of Axon Enterprise stock opened at $645.72 on Thursday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The company has a market capitalization of $52.46 billion, a P/E ratio of 267.93, a P/E/G ratio of 10.06 and a beta of 1.39. The company has a fifty day moving average of $536.03 and a 200 day moving average of $474.89.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same period last year, the firm earned $2.12 earnings per share. The business’s quarterly revenue was up 35.3% on a year-over-year basis. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal 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.