Alliancebernstein L.P. raised its stake in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,587,234 shares of the industrial products company’s stock after buying an additional 161,006 shares during the period. Alliancebernstein L.P. owned about 4.36% of Axon Enterprise worth $189,593,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in shares of Axon Enterprise by 0.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 15,505 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 120 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Axon Enterprise by 56.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 500 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 180 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Axon Enterprise by 1.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the industrial products company’s stock valued at $1,055,000 after purchasing an additional 200 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Axon Enterprise by 64.7% in the 4th quarter. Advisory Services Network LLC now owns 542 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 213 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Axon Enterprise by 3.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,763 shares of the industrial products company’s stock valued at $569,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Axon Enterprise from $78.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Raymond James cut Axon Enterprise from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, November 27th. Morgan Stanley lowered their price objective on Axon Enterprise from $94.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. Robert W. Baird lifted their price objective on Axon Enterprise from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Needham & Company LLC lifted their price objective on Axon Enterprise from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Axon Enterprise currently has a consensus rating of “Buy” and an average target price of $77.25.
In related news, Director Hadi Partovi bought 20,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average cost of $55.47 per share, for a total transaction of $1,109,400.00. Following the acquisition, the director now directly owns 290,586 shares in the company, valued at approximately $16,118,805.42. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew R. Mcbrady sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $82.49, for a total value of $140,233.00. Following the transaction, the director now owns 13,986 shares in the company, valued at $1,153,705.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,091 shares of company stock worth $9,761,925. Insiders own 2.30% of the company’s stock.
AAXN stock opened at $71.15 on Thursday. Axon Enterprise Inc has a 12-month low of $49.80 and a 12-month high of $90.10. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 7,115.00, a PEG ratio of 2,536.39 and a beta of 0.85. The business’s 50-day moving average is $75.66 and its 200 day moving average is $68.38.
Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings data on Thursday, February 27th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The company had revenue of $171.85 million for the quarter, compared to analysts’ expectations of $146.31 million. Axon Enterprise had a return on equity of 0.21% and a net margin of 0.17%. Axon Enterprise’s revenue was up 49.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS.
Axon Enterprise Company Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.
Featured Story: How are capital gains distributions different for tax-deferred account?
Receive News & Ratings for Axon Enterprise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axon Enterprise and related companies with MarketBeat.com's FREE daily email newsletter.