Empowered Funds LLC Boosts Position in Axon Enterprise, Inc $AXON

Empowered Funds LLC boosted its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 90.1% in the first quarter, HoldingsChannel.com reports. The firm owned 6,320 shares of the biotechnology company’s stock after buying an additional 2,996 shares during the quarter. Empowered Funds LLC’s holdings in Axon Enterprise were worth $2,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise during the fourth quarter worth about $28,000. Sound Income Strategies LLC grew its holdings in shares of Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter worth about $30,000. AlphaCentric Advisors LLC acquired a new stake in Axon Enterprise during the 4th quarter worth approximately $34,000. Finally, Darwin Wealth Management LLC acquired a new stake in Axon Enterprise during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Price Performance

NASDAQ AXON opened at $607.20 on Wednesday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The company has a market cap of $48.94 billion, a PE ratio of 243.86, a PEG ratio of 11.75 and a beta of 1.39. The stock’s 50-day moving average price is $505.32 and its two-hundred day moving average price is $474.90.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AXON. JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Needham & Company LLC boosted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $710.64.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total transaction of $6,437,900.00. Following the completion of the sale, the chief executive officer directly owned 3,040,997 shares of the company’s stock, valued at $1,957,763,458.63. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by company insiders.

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.