NewEdge Advisors LLC Boosts Stock Holdings in Axon Enterprise, Inc $AXON

NewEdge Advisors LLC grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 32.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,315 shares of the biotechnology company’s stock after buying an additional 1,301 shares during the quarter. NewEdge Advisors LLC’s holdings in Axon Enterprise were worth $2,257,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Edgewood Management LLC purchased a new stake in Axon Enterprise during the 4th quarter valued at about $846,516,000. Wellington Management Group LLP grew its position in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the last quarter. Norges Bank purchased a new position in Axon Enterprise in the 4th quarter worth approximately $515,764,000. Styrax Capital LP purchased a new position in Axon Enterprise in the 1st quarter worth approximately $84,938,000. Finally, Sands Capital Management LLC lifted its position in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their position. 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 68,989 shares of company stock worth $36,016,932. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Zacks Research cut shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $612.83 on Friday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The stock has a market capitalization of $49.78 billion, a P/E ratio of 254.29, a P/E/G ratio of 12.56 and a beta of 1.39. The company’s 50-day moving average is $526.06 and its 200 day moving average is $474.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. On average, sell-side analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Axon Enterprise Company 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.