BNC Wealth Management LLC Increases Position in Axon Enterprise, Inc. (NASDAQ:AXON)

BNC Wealth Management LLC grew its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 110.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,379 shares of the biotechnology company’s stock after buying an additional 5,456 shares during the quarter. Axon Enterprise accounts for about 1.5% of BNC Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. BNC Wealth Management LLC’s holdings in Axon Enterprise were worth $4,147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXON. First Trust Direct Indexing L.P. bought a new position in Axon Enterprise in the 1st quarter worth about $202,000. Norden Group LLC bought a new position in Axon Enterprise in the first quarter worth approximately $512,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Axon Enterprise by 2.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,434 shares of the biotechnology company’s stock worth $3,825,000 after purchasing an additional 301 shares during the period. Nordea Investment Management AB raised its position in Axon Enterprise by 0.4% during the 1st quarter. Nordea Investment Management AB now owns 14,511 shares of the biotechnology company’s stock valued at $4,570,000 after purchasing an additional 64 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Axon Enterprise in the 1st quarter worth $931,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Craig Hallum lifted their price objective on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JMP Securities boosted their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Bank of America initiated coverage on Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $392.85.

Insider Activity

In related news, Director Jeri Williams sold 110 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $400.00, for a total value of $44,000.00. Following the completion of the transaction, the director now owns 1,934 shares in the company, valued at $773,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeri Williams sold 110 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $400.00, for a total transaction of $44,000.00. Following the transaction, the director now owns 1,934 shares of the company’s stock, valued at $773,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,172 shares of company stock valued at $137,000,162 over the last ninety days. 5.70% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

AXON opened at $459.52 on Thursday. The company has a market cap of $34.73 billion, a P/E ratio of 121.25, a price-to-earnings-growth ratio of 10.99 and a beta of 0.94. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $407.26 and its 200-day moving average price is $343.94. Axon Enterprise, Inc. has a 52-week low of $212.88 and a 52-week high of $462.64.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. During the same quarter in the prior year, the business posted $0.80 EPS. Axon Enterprise’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, equities analysts anticipate that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Axon Enterprise Profile

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.