Picton Mahoney Asset Management lifted its position in Axon Enterprise Inc (NASDAQ:AAXN) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,480 shares of the industrial products company’s stock after buying an additional 480 shares during the period. Picton Mahoney Asset Management’s holdings in Axon Enterprise were worth $1,442,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC bought a new stake in shares of Axon Enterprise in the 1st quarter valued at $5,446,000. Quad Cities Investment Group LLC increased its position in shares of Axon Enterprise by 400.0% in the 2nd quarter. Quad Cities Investment Group LLC now owns 500 shares of the industrial products company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Executive Wealth Management LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at $32,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at $103,000. Finally, Stephens Inc. AR increased its position in shares of Axon Enterprise by 201.1% in the 1st quarter. Stephens Inc. AR now owns 2,845 shares of the industrial products company’s stock valued at $155,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.
In other news, Director Julie A. Cullivan sold 1,360 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.86, for a total transaction of $78,689.60. Following the completion of the transaction, the director now directly owns 7,815 shares in the company, valued at approximately $452,175.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick W. Smith sold 50,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $70.08, for a total transaction of $3,504,000.00. Following the transaction, the chief executive officer now owns 701,562 shares of the company’s stock, valued at $49,165,464.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,743 shares of company stock valued at $4,681,693. Corporate insiders own 2.30% of the company’s stock.
AAXN stock traded down $3.00 during trading hours on Friday, reaching $59.37. 839,026 shares of the stock were exchanged, compared to its average volume of 918,716. The firm’s 50-day moving average is $64.30 and its 200-day moving average is $61.43. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 118.74, a PEG ratio of 4.81 and a beta of 0.76. Axon Enterprise Inc has a 12 month low of $39.43 and a 12 month high of $74.93.
Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Thursday, August 8th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.05). The firm had revenue of $112.36 million for the quarter, compared to the consensus estimate of $115.41 million. Axon Enterprise had a return on equity of 3.19% and a net margin of 3.34%. Axon Enterprise’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities analysts expect that Axon Enterprise Inc will post 0.52 earnings per share for the current year.
A number of research firms recently commented on AAXN. TheStreet cut shares of Axon Enterprise from a “b-” rating to a “c+” rating in a research report on Wednesday, July 10th. Imperial Capital upgraded shares of Axon Enterprise from an “in-line” rating to an “outperform” rating and set a $68.00 price objective for the company in a research report on Wednesday, August 14th. Morgan Stanley upped their price objective on shares of Axon Enterprise from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Zacks Investment Research cut shares of Axon Enterprise from a “buy” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Needham & Company LLC cut Axon Enterprise from a “buy” rating to a “hold” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $72.22.
Axon Enterprise Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.
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