Pine Valley Investments Ltd Liability Co Increases Position in Axon Enterprise, Inc $AXON

Pine Valley Investments Ltd Liability Co raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 26.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,184 shares of the biotechnology company’s stock after purchasing an additional 1,283 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Axon Enterprise were worth $3,467,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AXON. Darwin Wealth Management LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $37,000. Creative Financial Designs Inc. ADV bought a new position in Axon Enterprise during the 4th quarter valued at approximately $28,000. Camelot Portfolios LLC bought a new position in Axon Enterprise during the 4th quarter valued at approximately $30,000. AlphaCentric Advisors LLC purchased a new position in Axon Enterprise during the fourth quarter valued at $34,000. Finally, Strive Financial Group LLC purchased a new position in Axon Enterprise during the fourth quarter valued at $41,000. 79.08% of the stock is currently 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 fifty-two week low of $339.01 and a fifty-two week high of $794.29. The business has a 50-day simple moving average of $526.06 and a two-hundred 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. The firm has a market cap of $49.78 billion, a price-to-earnings ratio of 254.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.39.

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

Insider Activity at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the transaction, the executive owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,989 shares of company stock valued at $36,016,932 over the last quarter. 4.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AXON shares. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. UBS Group raised their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Piper Sandler lifted their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $730.92.

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.