Fortis Group Advisors LLC Invests $1.75 Million in Axon Enterprise, Inc $AXON

Fortis Group Advisors LLC bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,116 shares of the biotechnology company’s stock, valued at approximately $1,747,000.

A number of other hedge funds have also recently modified their holdings of AXON. Brighton Jones LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at $480,000. NewEdge Advisors LLC grew its holdings in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares during the last quarter. Woodline Partners LP increased its position in shares of Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Axon Enterprise during the second quarter worth about $284,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $612.83 on Friday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $794.29. The stock has a market capitalization of $49.78 billion, a price-to-earnings ratio of 254.29, a PEG ratio of 12.56 and a beta of 1.39. The company has a 50-day simple moving average of $526.06 and a 200-day simple moving average of $474.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for 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 revenue was up 35.3% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. On average, analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXON. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. UBS Group increased their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Insider Activity at Axon Enterprise

In other news, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 9,930 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the sale, the chief executive officer owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. This trade represents a 0.33% 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. Insiders sold 68,989 shares of company stock worth $36,016,932 in the last ninety days. Company insiders own 4.20% of the company’s stock.

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.