Resolute Capital Asset Partners LLC Acquires New Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Resolute Capital Asset Partners LLC bought a new position in Axon Enterprise, Inc. (NASDAQ:AXON) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,000 shares of the biotechnology company’s stock, valued at approximately $2,942,000. Axon Enterprise accounts for about 1.7% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 24th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its holdings in shares of Axon Enterprise by 0.8% in the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock worth $1,659,000 after acquiring an additional 40 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Axon Enterprise during the 1st quarter valued at about $931,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Axon Enterprise by 14.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 170,376 shares of the biotechnology company’s stock valued at $53,307,000 after purchasing an additional 22,013 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Axon Enterprise by 21.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,153 shares of the biotechnology company’s stock worth $2,693,000 after purchasing an additional 1,634 shares during the period. Finally, Cim LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth approximately $1,409,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America began coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $380.00 target price for the company. Robert W. Baird raised their target price on Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Axon Enterprise in a research note on Wednesday, August 7th. JMP Securities boosted their price objective on Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, Jefferies Financial Group started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.38.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the transaction, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 70,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $362.21, for a total transaction of $25,354,700.00. Following the transaction, the chief executive officer now owns 2,945,366 shares of the company’s stock, valued at $1,066,841,018.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 317,981 shares of company stock worth $115,662,734. 6.10% of the stock is currently owned by insiders.

Axon Enterprise Stock Up 0.1 %

AXON stock opened at $383.01 on Thursday. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. Axon Enterprise, Inc. has a 52 week low of $189.12 and a 52 week high of $387.61. The stock has a market capitalization of $28.94 billion, a PE ratio of 111.99, a price-to-earnings-growth ratio of 10.34 and a beta of 0.94. The firm has a 50 day moving average of $344.06 and a 200 day moving average of $316.19.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

Axon Enterprise Company 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.