Meridian Investment Counsel Inc. bought a new stake in Axon Enterprise Inc (NASDAQ:AAXN) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,000 shares of the industrial products company’s stock, valued at approximately $205,000.
A number of other large investors have also bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Axon Enterprise in the third quarter valued at $787,000. Stratos Wealth Partners LTD. acquired a new position in Axon Enterprise in the third quarter valued at $204,000. Private Advisor Group LLC acquired a new position in Axon Enterprise in the third quarter valued at $352,000. Victory Capital Management Inc. acquired a new position in Axon Enterprise in the third quarter valued at $25,229,000. Finally, US Bancorp DE boosted its stake in shares of Axon Enterprise by 14.7% during the third quarter. US Bancorp DE now owns 8,307 shares of the industrial products company’s stock worth $568,000 after buying an additional 1,065 shares during the period. 81.80% of the stock is currently owned by hedge funds and other institutional investors.
In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $62.09, for a total value of $62,090.00. Following the completion of the transaction, the director now directly owns 36,261 shares of the company’s stock, valued at $2,251,445.49. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark W. Kroll sold 3,100 shares of the stock in a transaction dated Sunday, December 16th. The shares were sold at an average price of $22.85, for a total transaction of $70,835.00. Following the completion of the transaction, the director now directly owns 55,135 shares of the company’s stock, valued at $1,259,834.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,197 shares of company stock valued at $2,471,656. 3.50% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:AAXN opened at $60.08 on Wednesday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 222.52, a PEG ratio of 4.77 and a beta of 1.00. Axon Enterprise Inc has a 52 week low of $20.57 and a 52 week high of $76.45.
Axon Enterprise (NASDAQ:AAXN) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.15. The firm had revenue of $104.84 million during the quarter, compared to the consensus estimate of $103.06 million. Axon Enterprise had a net margin of 5.35% and a return on equity of 11.80%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. Equities analysts forecast that Axon Enterprise Inc will post 0.51 EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Axon Enterprise in a research note on Friday, July 20th. They set a “buy” rating and a $80.00 target price for the company. Zacks Investment Research downgraded shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Raymond James assumed coverage on shares of Axon Enterprise in a research note on Friday, September 14th. They set an “outperform” rating and a $79.00 target price for the company. BidaskClub upgraded shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Finally, Dougherty & Co downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Monday, August 6th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Axon Enterprise currently has a consensus rating of “Buy” and a consensus price target of $64.64.
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Axon Enterprise Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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