Brookstone Capital Management Raises Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Brookstone Capital Management increased its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 839 shares of the biotechnology company’s stock after purchasing an additional 41 shares during the quarter. Brookstone Capital Management’s holdings in Axon Enterprise were worth $263,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. First PREMIER Bank purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $33,000. Ballentine Partners LLC purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $216,000. Gulf International Bank UK Ltd increased its position in shares of Axon Enterprise by 1.5% during the first quarter. Gulf International Bank UK Ltd now owns 5,843 shares of the biotechnology company’s stock worth $1,828,000 after purchasing an additional 86 shares in the last quarter. Czech National Bank grew its holdings in Axon Enterprise by 0.7% in the 1st quarter. Czech National Bank now owns 12,421 shares of the biotechnology company’s stock valued at $3,886,000 after buying an additional 85 shares in the last quarter. Finally, Rise Advisors LLC grew its holdings in Axon Enterprise by 49.0% in the 1st quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 47 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 43,668 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $309.94, for a total transaction of $13,534,459.92. Following the sale, the insider now owns 189,719 shares in the company, valued at approximately $58,801,506.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Axon Enterprise news, insider Jeffrey C. Kunins sold 43,668 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $309.94, for a total transaction of $13,534,459.92. Following the sale, the insider now owns 189,719 shares in the company, valued at approximately $58,801,506.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeri Williams sold 308 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $310.07, for a total value of $95,501.56. Following the sale, the director now owns 1,607 shares in the company, valued at approximately $498,282.49. The disclosure for this sale can be found here. Insiders have sold a total of 89,447 shares of company stock worth $27,684,677 in the last quarter. 5.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on AXON. Argus began coverage on Axon Enterprise in a report on Wednesday, March 13th. They issued a “buy” rating and a $380.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $375.00 target price on shares of Axon Enterprise in a report on Tuesday, May 7th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Morgan Stanley upped their target price on Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $335.27.

Axon Enterprise Price Performance

AXON opened at $293.18 on Wednesday. The stock’s 50-day moving average price is $294.99 and its 200 day moving average price is $285.77. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87. The company has a current ratio of 2.91, a quick ratio of 2.55 and a debt-to-equity ratio of 0.37. The firm has a market cap of $22.13 billion, a price-to-earnings ratio of 85.73 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Friday, May 10th. The biotechnology company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.20. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. The firm had revenue of $460.74 million for the quarter, compared to analyst estimates of $441.57 million. During the same quarter in the prior year, the company earned $0.51 EPS. Axon Enterprise’s revenue was up 34.3% on a year-over-year basis. As a group, sell-side analysts expect that Axon Enterprise, Inc. will post 2.35 earnings per share for the current year.

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.