Sanctuary Advisors LLC Makes New Investment in Axon Enterprise, Inc $AXON

Sanctuary Advisors LLC bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,135 shares of the biotechnology company’s stock, valued at approximately $1,757,000.

A number of other hedge funds have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $28,000. Camelot Portfolios LLC acquired a new stake in Axon Enterprise during the 4th quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise during the 2nd quarter worth approximately $31,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the 4th quarter worth approximately $34,000. Finally, Darwin Wealth Management LLC bought a new stake in Axon Enterprise during the 2nd quarter worth approximately $37,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In related news, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares of the company’s stock, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,594 shares of company stock valued at $41,236,386 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $607.48 on Thursday. The company has a market capitalization of $49.35 billion, a PE ratio of 252.07, a P/E/G ratio of 9.95 and a beta of 1.39. The company has a 50 day simple moving average of $553.45 and a two-hundred day simple moving average of $480.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AXON shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Piper Sandler boosted their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. JPMorgan Chase & Co. raised 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. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $730.92.

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.