Blue Trust Inc. Boosts Holdings in Axon Enterprise, Inc (NASDAQ:AXON)

Blue Trust Inc. raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169 shares of the biotechnology company’s stock after acquiring an additional 42 shares during the quarter. Blue Trust Inc.’s holdings in Axon Enterprise were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $30,000. Elequin Capital LP purchased a new position in Axon Enterprise during the 4th quarter valued at about $46,000. CoreFirst Bank & Trust purchased a new position in Axon Enterprise during the 4th quarter valued at about $59,000. Global Financial Private Client LLC increased its holdings in Axon Enterprise by 11,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 111 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Axon Enterprise during the 1st quarter valued at about $77,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

AXON opened at $785.07 on Thursday. The company’s 50 day simple moving average is $704.90 and its 200 day simple moving average is $628.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $806.64. The stock has a market capitalization of $61.12 billion, a PE ratio of 189.63, a P/E/G ratio of 91.43 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXON. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Needham & Company LLC raised their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Barclays raised their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, Bank of America raised their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $699.55.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Joshua Isner sold 9,000 shares of Axon Enterprise stock in a transaction on Monday, May 12th. The stock was sold at an average price of $683.31, for a total transaction of $6,149,790.00. Following the completion of the sale, the president now owns 308,714 shares of the company’s stock, valued at approximately $210,947,363.34. This trade represents a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,642 shares of company stock valued at $30,500,428 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

About Axon Enterprise

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.