Hennion & Walsh Asset Management Inc. Invests $392,000 in Axon Enterprise, Inc. (NASDAQ:AXON)

Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,252 shares of the biotechnology company’s stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ING Groep NV lifted its stake in shares of Axon Enterprise by 9.3% in the 4th quarter. ING Groep NV now owns 9,643 shares of the biotechnology company’s stock worth $2,491,000 after acquiring an additional 821 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Axon Enterprise by 18.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 104,587 shares of the biotechnology company’s stock worth $27,019,000 after purchasing an additional 16,230 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Axon Enterprise in the fourth quarter worth approximately $32,000. Apollon Wealth Management LLC bought a new position in Axon Enterprise during the 4th quarter valued at $234,000. Finally, Cim LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at $1,409,000. 79.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeri Williams sold 308 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the sale, the director now owns 1,607 shares of the company’s stock, valued at approximately $498,282.49. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Axon Enterprise news, Director Jeri Williams sold 308 shares of Axon Enterprise stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the sale, the director now directly owns 1,607 shares in the company, valued at $498,282.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 43,668 shares of the stock in a transaction on 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 transaction, the insider now owns 189,719 shares in the company, valued at approximately $58,801,506.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,447 shares of company stock worth $27,684,677. Corporate insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON opened at $296.56 on Thursday. The business’s 50-day moving average is $294.87 and its 200-day moving average is $285.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.91 and a quick ratio of 2.55. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 86.71 and a beta of 0.95. Axon Enterprise, Inc. has a fifty-two week low of $175.37 and a fifty-two week high of $329.87.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AXON. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Axon Enterprise in a report on Tuesday, May 7th. JMP Securities reissued a “market outperform” rating and set a $375.00 target price on shares of Axon Enterprise in a research note on Tuesday, May 7th. StockNews.com cut shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley boosted their target price on Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $335.27.

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.