Merit Financial Group LLC bought a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,255 shares of the biotechnology company’s stock, valued at approximately $282,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Kovack Advisors Inc. increased its position in Axon Enterprise by 1.2% during the 1st quarter. Kovack Advisors Inc. now owns 3,997 shares of the biotechnology company’s stock valued at $899,000 after purchasing an additional 47 shares during the period. AE Wealth Management LLC boosted its holdings in shares of Axon Enterprise by 3.9% in the 1st quarter. AE Wealth Management LLC now owns 1,418 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 53 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Axon Enterprise by 1.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,340 shares of the biotechnology company’s stock valued at $720,000 after buying an additional 58 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Axon Enterprise by 0.6% in the 1st quarter. Oak Ridge Investments LLC now owns 10,484 shares of the biotechnology company’s stock valued at $2,357,000 after buying an additional 61 shares in the last quarter. Finally, Advisor Partners II LLC boosted its holdings in shares of Axon Enterprise by 2.6% in the 4th quarter. Advisor Partners II LLC now owns 2,632 shares of the biotechnology company’s stock valued at $437,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Analysts Set New Price Targets
AXON has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Axon Enterprise from $222.00 to $256.00 in a report on Wednesday, May 10th. JMP Securities restated a “market outperform” rating and issued a $235.00 price target on shares of Axon Enterprise in a report on Friday, April 14th. TheStreet cut shares of Axon Enterprise from a “b-” rating to a “c+” rating in a research note on Friday, May 26th. Robert W. Baird lifted their target price on shares of Axon Enterprise from $237.00 to $240.00 in a research note on Thursday, May 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Axon Enterprise in a research note on Thursday, April 13th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.64.
Axon Enterprise Stock Performance
AXON opened at $188.10 on Monday. Axon Enterprise, Inc. has a 12-month low of $88.61 and a 12-month high of $229.95. The company has a current ratio of 3.33, a quick ratio of 2.97 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $13.90 billion, a PE ratio of 99.52 and a beta of 0.90. The firm has a 50 day moving average of $196.30 and a two-hundred day moving average of $203.23.
Axon Enterprise (NASDAQ:AXON – Free Report) last posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.48. The company had revenue of $343.04 million during the quarter, compared to analyst estimates of $312.07 million. Axon Enterprise had a net margin of 10.76% and a return on equity of 10.65%. On average, analysts anticipate that Axon Enterprise, Inc. will post 1.58 EPS for the current year.
Insider Activity
In other news, Director Hadi Partovi bought 10,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average cost of $200.02 per share, with a total value of $2,000,200.00. Following the acquisition, the director now directly owns 378,817 shares in the company, valued at $75,770,976.34. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Brittany Bagley purchased 250 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average price of $200.00 per share, with a total value of $50,000.00. Following the acquisition, the chief financial officer now owns 109,174 shares in the company, valued at $21,834,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hadi Partovi purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $200.02 per share, with a total value of $2,000,200.00. Following the acquisition, the director now owns 378,817 shares in the company, valued at approximately $75,770,976.34. The disclosure for this purchase can be found here. In the last three months, insiders bought 45,250 shares of company stock valued at $8,735,200 and sold 54,458 shares valued at $10,534,340. Insiders own 6.10% of the company’s stock.
About Axon Enterprise
Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.
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