AE Wealth Management LLC Raises Holdings in Axon Enterprise Inc (NASDAQ:AAXN)

AE Wealth Management LLC lifted its holdings in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 8.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,137 shares of the industrial products company’s stock after acquiring an additional 256 shares during the period. AE Wealth Management LLC’s holdings in Axon Enterprise were worth $222,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AAXN. Norges Bank purchased a new stake in shares of Axon Enterprise during the fourth quarter worth about $45,746,000. Janus Henderson Group PLC boosted its position in Axon Enterprise by 13.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,600,214 shares of the industrial products company’s stock valued at $190,544,000 after buying an additional 299,281 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Axon Enterprise by 120.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 455,202 shares of the industrial products company’s stock valued at $33,357,000 after buying an additional 248,267 shares during the last quarter. Standard Life Aberdeen plc boosted its position in Axon Enterprise by 31.5% in the fourth quarter. Standard Life Aberdeen plc now owns 789,450 shares of the industrial products company’s stock valued at $57,879,000 after buying an additional 189,191 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in Axon Enterprise by 6.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,587,234 shares of the industrial products company’s stock valued at $189,593,000 after buying an additional 161,006 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Shares of NASDAQ:AAXN opened at $74.11 on Monday. Axon Enterprise Inc has a 12-month low of $49.80 and a 12-month high of $90.10. The company has a market capitalization of $4.43 billion, a PE ratio of -2,470.33 and a beta of 0.73. The business has a 50 day moving average of $73.37 and a two-hundred day moving average of $72.90.

Axon Enterprise (NASDAQ:AAXN) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.51. Axon Enterprise had a negative return on equity of 0.28% and a negative net margin of 0.26%. The company had revenue of $147.16 million during the quarter, compared to the consensus estimate of $131.92 million. During the same period in the previous year, the company posted $0.21 earnings per share. Axon Enterprise’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, equities research analysts anticipate that Axon Enterprise Inc will post -0.02 EPS for the current year.

A number of equities research analysts recently commented on AAXN shares. ValuEngine lowered Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. JMP Securities upped their target price on Axon Enterprise from $93.00 to $102.00 and gave the company a “market outperform” rating in a research report on Monday, May 11th. BidaskClub lowered Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC started coverage on Axon Enterprise in a research report on Tuesday, May 19th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Oppenheimer started coverage on Axon Enterprise in a research report on Tuesday, April 28th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $83.86.

In other news, Director Richard H. Carmona sold 45,067 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $85.29, for a total transaction of $3,843,764.43. Following the completion of the transaction, the director now directly owns 38,662 shares of the company’s stock, valued at approximately $3,297,481.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Luke Larson sold 15,775 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $80.35, for a total value of $1,267,521.25. Following the transaction, the president now directly owns 76,786 shares of the company’s stock, valued at $6,169,755.10. The disclosure for this sale can be found here. Insiders sold 124,174 shares of company stock valued at $10,197,595 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

About Axon Enterprise

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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