Ritholtz Wealth Management Grows Stock Position in Axon Enterprise, Inc $AXON

Ritholtz Wealth Management raised its position in Axon Enterprise, Inc (NASDAQ:AXON) by 206.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,324 shares of the biotechnology company’s stock after buying an additional 1,566 shares during the quarter. Ritholtz Wealth Management’s holdings in Axon Enterprise were worth $987,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after purchasing an additional 53,060 shares during the period. Geode Capital Management LLC increased its stake in shares of Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after purchasing an additional 35,544 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the period. Sands Capital Management LLC lifted its stake in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after buying an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of 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 valued at $874,463,000 after buying an additional 1,179,038 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Up 0.1%

AXON opened at $465.12 on Monday. The company has a fifty day moving average price of $420.65 and a 200-day moving average price of $481.58. The firm has a market capitalization of $37.49 billion, a P/E ratio of 186.79, a price-to-earnings-growth ratio of 9.48 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91.

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

Insiders Place Their Bets

In other news, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,989 shares of company stock worth $19,090,083. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday. JPMorgan Chase & Co. increased their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. TD Cowen reduced their price target on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $674.00 price objective on shares of Axon Enterprise in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise 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.