Advisor Resource Council Invests $270,000 in Axon Enterprise, Inc. (NASDAQ:AXON)

Advisor Resource Council acquired a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 676 shares of the biotechnology company’s stock, valued at approximately $270,000.

Several other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares during the period. Quent Capital LLC increased its holdings in Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock worth $32,000 after buying an additional 75 shares during the period. Asset Dedication LLC purchased a new position in Axon Enterprise during the 2nd quarter worth approximately $47,000. Friedenthal Financial purchased a new stake in shares of Axon Enterprise in the 3rd quarter valued at $51,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Axon Enterprise in the 2nd quarter valued at $59,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Trading Up 2.0 %

Shares of AXON opened at $468.75 on Friday. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $409.39 and a 200 day moving average price of $344.81. Axon Enterprise, Inc. has a 12-month low of $212.88 and a 12-month high of $471.00. The firm has a market capitalization of $35.42 billion, a P/E ratio of 123.68, a P/E/G ratio of 10.99 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Sell-side analysts forecast that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Wall Street Analyst Weigh In

AXON has been the subject of a number of research reports. Craig Hallum boosted their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $385.00 target price on the stock. Barclays lifted their price target on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities raised their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $392.85.

Insider Activity

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total transaction of $167,863.50. Following the completion of the sale, the director now directly owns 7,379 shares of the company’s stock, valued at approximately $2,752,588.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the completion of the transaction, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total value of $167,863.50. Following the transaction, the director now directly owns 7,379 shares in the company, valued at approximately $2,752,588.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,172 shares of company stock valued at $136,270,842 in the last quarter. Insiders own 5.70% of the company’s stock.

Axon Enterprise Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.