Moran Wealth Management LLC Invests $5.62 Million in Axon Enterprise, Inc $AXON

Moran Wealth Management LLC acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,230 shares of the biotechnology company’s stock, valued at approximately $5,619,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC increased its stake in Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Axon Enterprise during the fourth quarter worth $30,000. AlphaCentric Advisors LLC acquired a new position in Axon Enterprise during the fourth quarter worth $34,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Axon Enterprise during the fourth quarter worth $35,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $597.04 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The stock has a market capitalization of $48.12 billion, a P/E ratio of 239.78, a PEG ratio of 12.18 and a beta of 1.38. The stock has a 50-day simple moving average of $437.68 and a 200-day simple moving average of $482.40.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. Equities analysts forecast that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’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 value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,989 shares of company stock valued at $24,090,083. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AXON. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. Piper Sandler restated an “overweight” rating and set a $674.00 target price on shares of Axon Enterprise in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. TD Cowen lowered their price target on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

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.