FirstWave Capital Management LLC Acquires New Shares in Axon Enterprise, Inc $AXON

FirstWave Capital Management LLC acquired a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent filing with the SEC. The fund acquired 4,528 shares of the biotechnology company’s stock, valued at approximately $2,538,000. Axon Enterprise accounts for approximately 1.1% of FirstWave Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evergreen Capital Management LLC increased its holdings in shares of Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 15 shares during the period. Synergy Financial Group LTD grew its position in Axon Enterprise by 1.4% during the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock worth $996,000 after buying an additional 19 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Axon Enterprise by 1.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock valued at $1,350,000 after acquiring an additional 19 shares in the last quarter. Pure Financial Advisors LLC boosted its position in shares of Axon Enterprise by 6.7% during the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 23 shares during the last quarter. Finally, Keel Point LLC grew its holdings in shares of Axon Enterprise by 4.4% during the first quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock worth $254,000 after purchasing an additional 25 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 9,930 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the completion of the sale, the chief executive officer directly owned 3,031,067 shares in the company, valued at $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 56,380 shares of company stock valued at $32,582,366. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AXON shares. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. UBS Group lifted their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Piper Sandler increased their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Argus boosted their target price on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Trading Down 4.2%

AXON opened at $515.67 on Friday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $792.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The business has a 50 day simple moving average of $569.47 and a two-hundred day simple moving average of $486.24. The firm has a market capitalization of $41.89 billion, a price-to-earnings ratio of 213.97, a PEG ratio of 8.74 and a beta of 1.40.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. Analysts predict that Axon Enterprise, Inc will post 2.04 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.