WD Rutherford LLC Takes Position in Axon Enterprise, Inc $AXON

WD Rutherford LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 817 shares of the biotechnology company’s stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vestor Capital LLC increased its holdings in shares of Axon Enterprise by 438,636.3% in the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after acquiring an additional 833,409 shares in the last quarter. Norges Bank acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at approximately $637,806,000. McElhenny Sheffield Capital Management LLC bought a new stake in Axon Enterprise during the 2nd quarter worth approximately $255,833,000. Vanguard Group Inc. increased its stake in Axon Enterprise by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after purchasing an additional 305,252 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Axon Enterprise by 129.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock worth $444,124,000 after buying an additional 302,420 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Down 0.9%

Shares of AXON stock opened at $620.91 on Thursday. The firm’s fifty day moving average price is $577.39 and its two-hundred day moving average price is $690.39. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 1 year low of $469.24 and a 1 year high of $885.91. The firm has a market capitalization of $49.00 billion, a P/E ratio of 196.49, a PEG ratio of 19.73 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 earnings per share. On average, equities analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXON. UBS Group reduced their price target on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cowen reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $870.00 price target on shares of Axon Enterprise in a research note on Wednesday, September 24th. Finally, Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and an average target price of $805.71.

Insider Activity

In other news, President Joshua Isner sold 20,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $552.60, for a total value of $11,052,000.00. Following the completion of the sale, the president owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. This represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer H. Mak sold 1,134 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the transaction, the chief accounting officer owned 13,740 shares in the company, valued at approximately $8,244,000. The trade was a 7.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 50,540 shares of company stock worth $28,494,638. Corporate insiders own 4.40% 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.