NewEdge Wealth LLC Boosts Stake in Axon Enterprise, Inc $AXON

NewEdge Wealth LLC grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 466.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,737 shares of the biotechnology company’s stock after buying an additional 6,370 shares during the period. NewEdge Wealth LLC’s holdings in Axon Enterprise were worth $4,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vicus Capital raised its position in shares of Axon Enterprise by 3.7% during the 3rd quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 14 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 15 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Axon Enterprise by 5.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 313 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 16 shares in the last quarter. WPG Advisers LLC raised its position in shares of Axon Enterprise by 9.8% during the 3rd quarter. WPG Advisers LLC now owns 190 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 17 shares in the last quarter. Finally, Monte Financial Group LLC raised its position in shares of Axon Enterprise by 5.5% during the 3rd quarter. Monte Financial Group LLC now owns 325 shares of the biotechnology company’s stock valued at $233,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the transaction, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeri Williams sold 157 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the completion of the sale, the director directly owned 1,159 shares in the company, valued at approximately $567,910. This trade represents a 11.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,855 shares of company stock worth $7,109,828 over the last 90 days. Insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AXON shares. Wall Street Zen upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. TD Cowen lowered their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. JPMorgan Chase & Co. raised their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC decreased their target price on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $394.36 on Tuesday. The stock has a market cap of $31.79 billion, a PE ratio of 158.38, a PEG ratio of 9.49 and a beta of 1.44. The company’s fifty day moving average is $446.48 and its 200 day moving average is $523.35. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $885.91. 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 (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. Research analysts anticipate that Axon Enterprise, Inc will post 1.41 earnings per share for the current year.

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.