Independent Financial Group LLC Invests $1.16 Million in Axon Enterprise, Inc $AXON

Independent Financial Group LLC bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 2,727 shares of the biotechnology company’s stock, valued at approximately $1,158,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXON shares. Piper Sandler increased their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. 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 research note on Thursday, May 7th. UBS Group decreased their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, TD Cowen dropped their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $725.25.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total transaction of $6,437,900.00. Following the completion of the transaction, the chief executive officer owned 3,040,997 shares of the company’s stock, valued at $1,957,763,458.63. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the business’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 transaction, the president 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 90 days, insiders sold 58,989 shares of company stock worth $30,527,983. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Up 3.4%

Shares of NASDAQ:AXON opened at $527.48 on Tuesday. 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 52-week low of $339.01 and a 52-week high of $885.91. The stock has a market cap of $42.51 billion, a price-to-earnings ratio of 211.84, a PEG ratio of 10.41 and a beta of 1.38. The business has a 50-day moving average price of $474.33 and a 200-day moving average price of $480.87.

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. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Axon Enterprise’s revenue for the quarter was up 33.7% on a year-over-year basis. Equities analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current 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.