Elevation Point Wealth Partners LLC Buys New Stake in Axon Enterprise, Inc $AXON

Elevation Point Wealth Partners LLC bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,486 shares of the biotechnology company’s stock, valued at approximately $1,954,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC bought a new position in Axon Enterprise in the 2nd quarter valued at about $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise during the 4th quarter worth about $28,000. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $31,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $627.75 on Monday. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 260.48, a P/E/G ratio of 10.19 and a beta of 1.39. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $543.11 and its 200-day simple moving average is $476.99.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period last year, the company posted $2.12 EPS. On average, sell-side analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Barclays raised their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Thirteen 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Insider Activity

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,989 shares of company stock valued at $35,216,932 in the last three months. 4.20% of the stock is currently owned by insiders.

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.