Naples Global Advisors LLC Invests $225,000 in Axon Enterprise, Inc. (NASDAQ:AXON)

Posted by Defense World Staff on Jun 29th, 2023

Naples Global Advisors LLC purchased a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,000 shares of the biotechnology company’s stock, valued at approximately $225,000.

Other institutional investors have also made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new position in Axon Enterprise during the fourth quarter valued at approximately $25,000. U.S. Capital Wealth Advisors LLC acquired a new position in Axon Enterprise during the fourth quarter valued at approximately $29,000. Roble Belko & Company Inc acquired a new position in Axon Enterprise in the fourth quarter valued at about $33,000. North Star Investment Management Corp. bought a new stake in shares of Axon Enterprise in the fourth quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Axon Enterprise in the fourth quarter worth about $42,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. Craig Hallum increased their price target on Axon Enterprise from $215.00 to $242.00 in a report on Wednesday, March 1st. TheStreet downgraded shares of Axon Enterprise from a “b-” rating to a “c+” rating in a research report on Friday, May 26th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Axon Enterprise in a research report on Thursday, April 13th. JPMorgan Chase & Co. raised Axon Enterprise from a “neutral” rating to an “overweight” rating and set a $236.00 target price on the stock in a research report on Thursday, May 11th. Finally, StockNews.com began coverage on shares of Axon Enterprise in a research note on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.64.

Insider Buying and Selling

In related news, Director Hadi Partovi acquired 25,000 shares of Axon Enterprise stock in a transaction on Friday, June 23rd. The stock was purchased at an average cost of $191.10 per share, with a total value of $4,777,500.00. Following the completion of the transaction, the director now directly owns 413,817 shares in the company, valued at approximately $79,080,428.70. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Hadi Partovi acquired 25,000 shares of Axon Enterprise stock in a transaction dated Friday, June 23rd. The stock was bought at an average price of $191.10 per share, for a total transaction of $4,777,500.00. Following the completion of the acquisition, the director now directly owns 413,817 shares in the company, valued at approximately $79,080,428.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $224.36, for a total value of $583,336.00. Following the sale, the chief executive officer now owns 2,985,660 shares of the company’s stock, valued at approximately $669,862,677.60. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 45,250 shares of company stock worth $8,735,200 and sold 7,275 shares worth $1,504,121. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $194.59 on Thursday. Axon Enterprise, Inc. has a 1-year low of $88.61 and a 1-year high of $229.95. The company has a current ratio of 3.33, a quick ratio of 2.97 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $199.02 and a 200 day simple moving average of $201.97. The stock has a market capitalization of $14.38 billion, a PE ratio of 102.96 and a beta of 0.92.

Axon Enterprise (NASDAQ:AXON – Free Report) last posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.48. Axon Enterprise had a return on equity of 10.65% and a net margin of 10.76%. The business had revenue of $343.04 million during the quarter, compared to analysts’ expectations of $312.07 million. On average, research analysts expect that Axon Enterprise, Inc. will post 1.59 EPS for the current fiscal year.

Axon Enterprise Profile

(Free Report)

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.