Ground Swell Capital LLC Raises Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Ground Swell Capital LLC grew its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 246.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,474 shares of the biotechnology company's stock after acquiring an additional 1,759 shares during the quarter. Axon Enterprise comprises 0.6% of Ground Swell Capital LLC's holdings, making the stock its 16th largest holding. Ground Swell Capital LLC's holdings in Axon Enterprise were worth $728,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AXON. ICA Group Wealth Management LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at $26,000. Blue Trust Inc. increased its holdings in Axon Enterprise by 987.5% during the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 79 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Axon Enterprise in the first quarter worth approximately $31,000. First PREMIER Bank bought a new position in shares of Axon Enterprise in the first quarter valued at approximately $33,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in shares of Axon Enterprise during the first quarter valued at approximately $41,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Craig Hallum increased their price target on Axon Enterprise from $370.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Barclays increased their target price on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a "buy" rating and a $385.00 price objective for the company. Robert W. Baird lifted their target price on shares of Axon Enterprise from $360.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Northland Securities upped their target price on Axon Enterprise from $330.00 to $365.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $361.15.

Insiders Place Their Bets

In other news, Director Julie A. Cullivan sold 900 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total value of $318,177.00. Following the transaction, the director now owns 3,653 shares of the company's stock, valued at approximately $1,291,445.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Julie A. Cullivan sold 900 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $353.53, for a total transaction of $318,177.00. Following the completion of the transaction, the director now directly owns 3,653 shares of the company's stock, valued at $1,291,445.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Joshua Isner sold 25,811 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $359.84, for a total value of $9,287,830.24. Following the transaction, the president now directly owns 228,166 shares of the company's stock, valued at approximately $82,103,253.44. The disclosure for this sale can be found here. Insiders have sold 312,643 shares of company stock worth $113,637,859 in the last ninety days. 6.10% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

NASDAQ:AXON traded up $2.36 on Wednesday, reaching $361.71. 471,487 shares of the company's stock were exchanged, compared to its average volume of 518,332. The stock has a fifty day simple moving average of $335.53 and a 200-day simple moving average of $313.10. Axon Enterprise, Inc. has a 52 week low of $189.12 and a 52 week high of $378.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The firm has a market cap of $27.33 billion, a price-to-earnings ratio of 105.76, a P/E/G ratio of 9.50 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released 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 company had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same period last year, the firm earned $0.80 EPS. Axon Enterprise's revenue for the quarter was up 34.5% on a year-over-year basis. As a group, sell-side analysts predict that Axon Enterprise, Inc. will post 1.79 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.