Evolve Private Wealth LLC Acquires Shares of 1,203 Axon Enterprise, Inc $AXON

Evolve Private Wealth LLC bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,203 shares of the biotechnology company’s stock, valued at approximately $674,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV bought a new position in Axon Enterprise in the fourth quarter valued at about $28,000. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in Axon Enterprise in the second quarter valued at approximately $31,000. AlphaCentric Advisors LLC acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $34,000. Finally, Darwin Wealth Management LLC acquired a new position in Axon Enterprise in the second quarter valued at approximately $37,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON opened at $597.59 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $794.29. The company has a fifty day simple moving average of $546.20 and a 200 day simple moving average of $478.02. The stock has a market cap of $48.55 billion, a P/E ratio of 247.96, a P/E/G ratio of 10.19 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm’s revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. On average, research analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 76,594 shares of company stock valued at $41,236,386. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXON. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Piper Sandler lifted their price objective on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Barclays lifted their price objective on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently 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.