Inspire Investing LLC Acquires Shares of 3,193 Axon Enterprise, Inc $AXON

Inspire Investing LLC acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,193 shares of the biotechnology company’s stock, valued at approximately $2,291,000.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Axon Enterprise by 3.5% in 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 during the period. Geode Capital Management LLC increased its position in shares of Axon Enterprise by 5.9% in the second quarter. Geode Capital Management LLC now owns 2,072,186 shares of the biotechnology company’s stock valued at $1,713,332,000 after buying an additional 115,349 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Axon Enterprise by 15.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock worth $675,812,000 after buying an additional 175,890 shares during the period. Vestor Capital LLC lifted its position in shares of Axon Enterprise by 438,636.3% during the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after buying an additional 833,409 shares in the last quarter. Finally, Norges Bank acquired a new stake in Axon Enterprise in the 2nd quarter valued at $637,806,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

AXON opened at $591.15 on Friday. Axon Enterprise, Inc has a twelve month low of $469.24 and a twelve month high of $885.91. The firm has a market capitalization of $46.65 billion, a PE ratio of 187.07, a PEG ratio of 135.77 and a beta of 1.40. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $601.45 and its 200 day moving average price is $702.84.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the business earned $1.45 earnings per share. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday. Morgan Stanley reduced their price target on shares of Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Barclays decreased their price target on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Piper Sandler lowered their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $802.71.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the transaction, the president owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer H. Mak sold 1,134 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $600.00, for a total value of $680,400.00. Following the completion of the sale, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at $8,244,000. This trade represents a 7.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,540 shares of company stock valued at $39,201,438 in the last 90 days. 4.40% of the stock is owned by 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.