Sanctuary Advisors LLC Acquires Shares of 3,135 Axon Enterprise, Inc $AXON

Sanctuary Advisors LLC bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,135 shares of the biotechnology company’s stock, valued at approximately $1,757,000.

Several other hedge funds also recently made changes to their positions in AXON. Edgewood Management LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $846,516,000. Wellington Management Group LLP increased its stake 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 period. Norges Bank bought a new position in Axon Enterprise during the 4th quarter worth $515,764,000. BlackRock Inc. raised its holdings in Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after acquiring an additional 345,365 shares in the last quarter. Finally, Styrax Capital LP acquired a new position in Axon Enterprise in the 1st quarter valued at $84,938,000. 79.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AXON has been the topic of a number of recent analyst reports. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Piper Sandler increased their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $730.92.

Axon Enterprise Trading Down 0.9%

Shares of AXON stock opened at $607.48 on Thursday. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29. The stock’s fifty day moving average price is $553.45 and its two-hundred day moving average price is $480.77. 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 company has a market cap of $49.35 billion, a PE ratio of 252.07, a P/E/G ratio of 9.95 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.Axon Enterprise’s revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 EPS. Equities analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Insider Activity

In other news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 76,594 shares of company stock valued at $41,236,386. Corporate insiders own 4.20% of the company’s stock.

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.