Sona Asset Management US LLC Takes $2.12 Million Position in Axon Enterprise, Inc $AXON

Sona Asset Management US LLC acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the first quarter, Holdings Channel reports. The institutional investor acquired 5,000 shares of the biotechnology company’s stock, valued at approximately $2,123,000.

Several other large investors have also made changes to their positions in AXON. Brighton Jones LLC bought a new stake in Axon Enterprise during the 4th quarter valued at approximately $480,000. NewEdge Advisors LLC increased its position in Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares during the period. Empowered Funds LLC lifted its holdings in shares of Axon Enterprise by 8.4% during 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 last quarter. Woodline Partners LP lifted its holdings in shares of Axon Enterprise by 40.6% during 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 last quarter. Finally, Sivia Capital Partners LLC acquired a new position in shares of Axon Enterprise during the second quarter worth approximately $284,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $502.34 on Monday. The firm has a market capitalization of $40.49 billion, a PE ratio of 201.74, a price-to-earnings-growth ratio of 10.25 and a beta of 1.38. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91. The firm has a 50-day moving average price of $483.26 and a 200 day moving average price of $478.81.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. During the same period in the previous year, the business earned $1.47 earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Research analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the sale, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,989 shares of company stock worth $30,527,983 over the last three months. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AXON has been the topic of several research analyst reports. Piper Sandler raised their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Barclays cut their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. UBS Group decreased their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Citizens Jmp restated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $725.25.

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.