Equitable Holdings Inc. Takes Position in Axon Enterprise, Inc $AXON

Equitable Holdings Inc. bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,712 shares of the biotechnology company’s stock, valued at approximately $2,081,000.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise in the fourth quarter worth approximately $28,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $31,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $34,000. Darwin Wealth Management LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at $37,000. Finally, Strive Financial Group LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Down 1.7%

Axon Enterprise stock opened at $600.73 on Friday. The firm has a market capitalization of $48.80 billion, a price-to-earnings ratio of 249.27, a price-to-earnings-growth ratio of 9.92 and a beta of 1.39. The firm’s fifty day moving average price is $560.75 and its two-hundred day moving average price is $482.99. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $792.16. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

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

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 76,594 shares of company stock worth $41,236,386. 4.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AXON shares. The Goldman Sachs Group reissued a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a research report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. 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 note on Thursday, August 6th. Barclays increased their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

About Axon Enterprise

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.