Mackay Shields LLC Invests $1.78 Million in Axon Enterprise Inc (NASDAQ:AAXN)

25 May 2020, 13:54 by Michael Walen

Mackay Shields LLC acquired a new position in shares of Axon Enterprise Inc (NASDAQ:AAXN) during the first quarter, Holdings Channel.com reports. The fund acquired 25,200 shares of the industrial products company’s stock, valued at approximately $1,784,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AAXN. Wealth Quarterback LLC purchased a new stake in Axon Enterprise during the 4th quarter worth about $26,000. Clear Harbor Asset Management LLC purchased a new stake in Axon Enterprise during the 4th quarter worth about $27,000. Citizens Financial Group Inc RI purchased a new stake in Axon Enterprise during the 4th quarter worth about $28,000. Nisa Investment Advisors LLC lifted its holdings in Axon Enterprise by 56.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 500 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 180 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Axon Enterprise by 64.7% during the 4th quarter. Advisory Services Network LLC now owns 542 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 213 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:AAXN opened at $74.11 on Monday. The stock has a market cap of $4.43 billion, a P/E ratio of -2,470.33 and a beta of 0.73. The business’s 50-day moving average price is $73.37 and its two-hundred day moving average price is $72.90. Axon Enterprise Inc has a twelve month low of $49.80 and a twelve month high of $90.10.

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

In related news, Director Matthew R. Mcbrady sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $82.49, for a total transaction of $140,233.00. Following the transaction, the director now directly owns 13,986 shares in the company, valued at approximately $1,153,705.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 29,081 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $80.33, for a total value of $2,336,076.73. Following the transaction, the chief executive officer now owns 690,115 shares in the company, valued at $55,436,937.95. The disclosure for this sale can be found here. Insiders have sold a total of 124,174 shares of company stock worth $10,197,595 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

A number of brokerages recently issued reports on AAXN. Imperial Capital increased their price objective on Axon Enterprise from $78.00 to $82.00 and gave the stock an “in-line” rating in a report on Monday, May 18th. Oppenheimer initiated coverage on Axon Enterprise in a report on Tuesday, April 28th. They set a “hold” rating on the stock. Morgan Stanley raised their price target on Axon Enterprise from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on Axon Enterprise from $78.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Zacks Investment Research raised Axon Enterprise from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Tuesday, May 19th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $83.86.

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.