Fifth Third Bancorp Raises Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Fifth Third Bancorp boosted its holdings in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 91.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,923 shares of the biotechnology company’s stock after buying an additional 1,394 shares during the quarter. Fifth Third Bancorp’s holdings in Axon Enterprise were worth $1,537,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $30,000. Elequin Capital LP purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $46,000. CoreFirst Bank & Trust purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $59,000. Global Financial Private Client LLC increased its holdings in Axon Enterprise by 11,100.0% during the first quarter. Global Financial Private Client LLC now owns 112 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 111 shares during the period. Finally, Prestige Wealth Management Group LLC increased its holdings in Axon Enterprise by 59.8% during the fourth quarter. Prestige Wealth Management Group LLC now owns 131 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 49 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXON has been the topic of several analyst reports. Barclays lifted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Needham & Company LLC lifted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Bank of America lifted their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Northcoast Research lowered shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $699.55.

Insider Activity at Axon Enterprise

In related news, CRO Cameron Brooks sold 3,000 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the transaction, the executive now directly owns 19,447 shares in the company, valued at $14,405,559.72. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Garnreiter sold 87 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.00, for a total transaction of $66,120.00. Following the transaction, the director now owns 24,653 shares of the company’s stock, valued at $18,736,280. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,662 shares of company stock worth $29,739,909 over the last three months. Company insiders own 4.40% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON opened at $780.63 on Monday. The firm has a market capitalization of $60.77 billion, a PE ratio of 201.71, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise, Inc. has a 1-year low of $279.02 and a 1-year high of $806.64. The company’s fifty day moving average price is $669.47 and its 200-day moving average price is $621.44.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. On average, equities research analysts predict that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

About Axon Enterprise

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.