LaSalle St. Investment Advisors LLC Takes Position in Axon Enterprise, Inc $AXON

LaSalle St. Investment Advisors LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,074 shares of the biotechnology company’s stock, valued at approximately $602,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Axon Enterprise during the fourth quarter worth about $480,000. NewEdge Advisors LLC raised its holdings in Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after buying an additional 668 shares during the period. Empowered Funds LLC raised its holdings in Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP lifted its position in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Axon Enterprise during the second quarter worth approximately $284,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Trading Down 4.9%

Axon Enterprise stock opened at $614.26 on Friday. 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 firm has a 50-day moving average price of $539.39 and a two-hundred day moving average price of $475.81. The firm has a market capitalization of $49.90 billion, a price-to-earnings ratio of 254.88, a PEG ratio of 10.48 and a beta of 1.39. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.12 EPS. Sell-side analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AXON. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group reaffirmed a “buy” rating and set a $715.00 price target on shares of Axon Enterprise in a report on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Finally, Barclays boosted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 66,989 shares of company stock worth $35,216,932 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

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.