Virginia Retirement Systems ET AL purchased a new stake in shares of Axon Enterprise Inc (NASDAQ:AAXN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,200 shares of the industrial products company’s stock, valued at approximately $1,059,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Steward Partners Investment Advisory LLC increased its position in Axon Enterprise by 1,515.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,515 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Axon Enterprise by 100.0% in the 3rd quarter. First Mercantile Trust Co. now owns 2,400 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 1,200 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Axon Enterprise in the 3rd quarter worth $203,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Axon Enterprise in the 3rd quarter worth $204,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Axon Enterprise in the 3rd quarter worth $205,000. 82.86% of the stock is owned by institutional investors.
Several research firms have recently commented on AAXN. Northland Securities restated a “buy” rating and issued a $70.00 price objective on shares of Axon Enterprise in a research note on Wednesday. JPMorgan Chase & Co. upgraded Axon Enterprise from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $66.00 to $68.00 in a research note on Thursday, November 8th. Robert W. Baird upgraded Axon Enterprise from a “neutral” rating to an “outperform” rating in a research note on Friday, November 9th. Zacks Investment Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a research note on Wednesday, January 9th. Finally, BidaskClub upgraded Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 10th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $63.75.
In other Axon Enterprise news, CEO Patrick W. Smith sold 107,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The shares were sold at an average price of $42.27, for a total value of $4,522,890.00. Following the completion of the sale, the chief executive officer now directly owns 632,520 shares in the company, valued at $26,736,620.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark W. Kroll sold 3,100 shares of the firm’s stock in a transaction that occurred on Sunday, December 16th. The shares were sold at an average price of $22.85, for a total transaction of $70,835.00. Following the completion of the sale, the director now owns 55,135 shares of the company’s stock, valued at $1,259,834.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,100 shares of company stock valued at $4,773,725. 2.40% of the stock is owned by insiders.
AAXN stock traded down $0.76 during trading on Thursday, hitting $54.73. 6,969 shares of the company’s stock traded hands, compared to its average volume of 338,773. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 205.70, a PEG ratio of 3.62 and a beta of 0.97. Axon Enterprise Inc has a 1 year low of $31.06 and a 1 year high of $76.45.
Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings data on Tuesday, February 26th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). The business had revenue of $114.79 million for the quarter, compared to analysts’ expectations of $104.03 million. Axon Enterprise had a net margin of 6.26% and a return on equity of 10.74%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. On average, analysts anticipate that Axon Enterprise Inc will post 0.52 EPS for the current fiscal year.
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Axon Enterprise Company Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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