Ashford Capital Management Inc. Purchases 1,756 Shares of Axon Enterprise, Inc $AXON

Ashford Capital Management Inc. raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 6.0% during the first quarter, HoldingsChannel reports. The firm owned 30,955 shares of the biotechnology company’s stock after purchasing an additional 1,756 shares during the period. Axon Enterprise makes up approximately 1.6% of Ashford Capital Management Inc.’s holdings, making the stock its 25th biggest holding. Ashford Capital Management Inc.’s holdings in Axon Enterprise were worth $13,146,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC grew its position in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Camelot Portfolios LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $30,000. AlphaCentric Advisors LLC bought a new position in Axon Enterprise during the fourth quarter valued at approximately $34,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth approximately $35,000. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a report on Thursday, May 7th. Zacks Research cut shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Piper Sandler boosted their price target on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.25.

Axon Enterprise Stock Up 4.6%

Shares of Axon Enterprise stock opened at $525.48 on Tuesday. 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’s fifty day simple moving average is $485.78 and its two-hundred day simple moving average is $478.09. The company has a market cap of $42.35 billion, a P/E ratio of 211.04, a PEG ratio of 10.25 and a beta of 1.38. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. During the same period in the prior year, the business earned $1.47 EPS. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 20,000 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 $10,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 dated 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 sale, the president owned 169,125 shares of the company’s stock, valued at $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. Insiders have sold 58,989 shares of company stock valued at $30,527,983 over the last three months. Corporate insiders own 4.20% of the company’s stock.

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.