Axon Enterprise, Inc. (NASDAQ:AXON) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 91.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,923 shares of the biotechnology company’s stock after acquiring an additional 1,394 shares during the period. Fifth Third Bancorp’s holdings in Axon Enterprise were worth $1,537,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter worth about $30,000. Elequin Capital LP acquired a new position in shares of Axon Enterprise in the fourth quarter worth about $46,000. CoreFirst Bank & Trust acquired a new position in shares of Axon Enterprise in the fourth quarter worth about $59,000. Global Financial Private Client LLC raised its position in shares of Axon Enterprise by 11,100.0% in the first quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 111 shares during the period. Finally, Prestige Wealth Management Group LLC raised its position in shares of Axon Enterprise by 59.8% in the fourth quarter. Prestige Wealth Management Group LLC now owns 131 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares of the company’s stock, valued at $1,657,583,622.18. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael Garnreiter sold 87 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.00, for a total transaction of $66,120.00. Following the completion of the sale, the director now directly owns 24,653 shares of the company’s stock, valued at approximately $18,736,280. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,662 shares of company stock valued at $29,739,909. Corporate insiders own 4.40% of the company’s stock.

Axon Enterprise Stock Up 0.7%

Shares of NASDAQ AXON opened at $780.63 on Monday. Axon Enterprise, Inc. has a 12-month low of $279.02 and a 12-month high of $806.64. The stock has a market cap of $60.77 billion, a PE ratio of 201.71, a P/E/G ratio of 5.17 and a beta of 1.29. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $669.47 and a 200 day moving average of $621.44.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The company had revenue of $603.63 million during the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter in the prior year, the company earned $1.15 EPS. Axon Enterprise’s revenue was up 31.3% compared to the same quarter last year. As a group, sell-side analysts predict that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AXON. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC boosted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Finally, Barclays boosted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $699.55.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.