Fortis Group Advisors LLC Takes $1.75 Million Position in Axon Enterprise, Inc $AXON

Fortis Group Advisors LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,116 shares of the biotechnology company’s stock, valued at approximately $1,747,000.

Several other large investors have also recently added to or reduced their stakes in AXON. Evergreen Capital Management LLC lifted its holdings in Axon Enterprise by 3.8% in the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after acquiring an additional 15 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Axon Enterprise by 1.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock worth $1,350,000 after purchasing an additional 19 shares during the period. Synergy Financial Group LTD grew its stake in shares of Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock worth $996,000 after purchasing an additional 19 shares during the period. Certuity LLC increased its holdings in shares of Axon Enterprise by 5.1% in the 4th quarter. Certuity LLC now owns 474 shares of the biotechnology company’s stock valued at $269,000 after purchasing an additional 23 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its holdings in shares of Axon Enterprise by 6.7% in the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 23 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Trading Down 0.4%

NASDAQ:AXON opened at $612.83 on Friday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $526.06 and a 200-day simple moving average of $474.40. The company has a market capitalization of $49.78 billion, a PE ratio of 254.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same period in the prior year, the company earned $2.12 EPS. The firm’s revenue was up 35.3% on a year-over-year basis. On average, equities research analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Morgan Stanley increased their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. UBS Group lifted their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upped their price target on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $730.92.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 9,930 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $548.77, for a total value of $5,449,286.10. Following the sale, the chief executive officer directly owned 3,031,067 shares in the company, valued at $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $478.97, for a total transaction of $270,139.08. Following the transaction, the director directly owned 3,632 shares of the company’s stock, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 68,989 shares of company stock valued at $36,016,932. 4.20% of the stock is owned by company insiders.

Axon Enterprise Company 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.