SouthState Corp Purchases Shares of 300 Axon Enterprise, Inc. (NASDAQ:AXON)

SouthState Corp purchased a new position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 300 shares of the biotechnology company’s stock, valued at approximately $88,000.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc lifted its holdings in Axon Enterprise by 11.9% during the 2nd quarter. TD Asset Management Inc now owns 28,908 shares of the biotechnology company’s stock worth $8,506,000 after buying an additional 3,071 shares during the period. Larson Financial Group LLC lifted its stake in shares of Axon Enterprise by 10,050.0% in the second quarter. Larson Financial Group LLC now owns 203 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 201 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Axon Enterprise by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,108 shares of the biotechnology company’s stock valued at $1,797,000 after acquiring an additional 100 shares during the last quarter. Magnus Financial Group LLC increased its position in Axon Enterprise by 18.5% during the 2nd quarter. Magnus Financial Group LLC now owns 2,210 shares of the biotechnology company’s stock valued at $650,000 after purchasing an additional 345 shares during the period. Finally, Whalen Wealth Management Inc. raised its holdings in Axon Enterprise by 153.1% during the 2nd quarter. Whalen Wealth Management Inc. now owns 2,058 shares of the biotechnology company’s stock worth $606,000 after purchasing an additional 1,245 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

AXON opened at $354.62 on Friday. The company has a market cap of $26.80 billion, a price-to-earnings ratio of 103.69, a PEG ratio of 9.52 and a beta of 0.94. The company’s fifty day moving average price is $331.40 and its two-hundred day moving average price is $310.85. Axon Enterprise, Inc. has a 1-year low of $189.12 and a 1-year high of $378.89. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.18. The business had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. On average, analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AXON has been the subject of several recent analyst reports. Northland Securities increased their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Axon Enterprise in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $375.00 price objective on shares of Axon Enterprise in a research note on Wednesday, August 7th. Barclays raised their target price on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Craig Hallum boosted their price target on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $358.08.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total transaction of $318,177.00. Following the transaction, the director now directly owns 3,653 shares in the company, valued at approximately $1,291,445.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Axon Enterprise news, Director Julie A. Cullivan sold 900 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $353.53, for a total value of $318,177.00. Following the completion of the sale, the director now owns 3,653 shares in the company, valued at approximately $1,291,445.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total value of $167,863.50. Following the completion of the transaction, the director now owns 7,379 shares in the company, valued at approximately $2,752,588.37. The disclosure for this sale can be found here. Insiders have sold a total of 278,650 shares of company stock valued at $101,364,745 over the last 90 days. Insiders own 6.10% of the company’s stock.

Axon Enterprise Profile

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.