Picton Mahoney Asset Management Invests $1.45 Million in Axon Enterprise Inc (AAXN)

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Picton Mahoney Asset Management purchased a new position in Axon Enterprise Inc (NASDAQ:AAXN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,200 shares of the industrial products company’s stock, valued at approximately $1,451,000.

Several other hedge funds have also recently added to or reduced their stakes in AAXN. Millennium Management LLC boosted its holdings in shares of Axon Enterprise by 264.5% in the first quarter. Millennium Management LLC now owns 51,903 shares of the industrial products company’s stock worth $2,040,000 after buying an additional 37,662 shares during the period. Legal & General Group Plc boosted its holdings in shares of Axon Enterprise by 10.7% in the first quarter. Legal & General Group Plc now owns 110,352 shares of the industrial products company’s stock worth $4,286,000 after buying an additional 10,627 shares during the period. Royal Bank of Canada boosted its holdings in shares of Axon Enterprise by 434.0% in the first quarter. Royal Bank of Canada now owns 22,108 shares of the industrial products company’s stock worth $869,000 after buying an additional 17,968 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Axon Enterprise by 4.0% in the first quarter. Principal Financial Group Inc. now owns 411,971 shares of the industrial products company’s stock worth $16,194,000 after buying an additional 16,022 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Axon Enterprise by 2.8% in the first quarter. Allianz Asset Management GmbH now owns 160,730 shares of the industrial products company’s stock worth $6,318,000 after buying an additional 4,315 shares during the period. Hedge funds and other institutional investors own 81.80% of the company’s stock.

Several research analysts have commented on the stock. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $77.00 target price on shares of Axon Enterprise in a report on Wednesday, August 8th. Robert W. Baird upgraded shares of Axon Enterprise from a “neutral” rating to an “outperform” rating in a report on Friday. CL King reiterated a “hold” rating on shares of Axon Enterprise in a report on Monday, October 22nd. Zacks Investment Research cut shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Craig Hallum cut shares of Axon Enterprise from a “buy” rating to a “hold” rating and raised their price target for the stock from $55.00 to $62.00 in a report on Wednesday, August 8th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $64.82.

AAXN stock opened at $52.25 on Friday. The company has a market cap of $2.96 billion, a P/E ratio of 193.52, a P/E/G ratio of 3.95 and a beta of 1.00. Axon Enterprise Inc has a 52 week low of $20.81 and a 52 week high of $76.45.

Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $104.84 million during the quarter, compared to analysts’ expectations of $103.06 million. Axon Enterprise had a net margin of 6.26% and a return on equity of 10.74%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. Analysts anticipate that Axon Enterprise Inc will post 0.51 EPS for the current year.

In related news, Director Mark W. Kroll sold 3,100 shares of the firm’s stock in a transaction that occurred on Sunday, December 16th. The shares were sold at an average price of $22.85, for a total transaction of $70,835.00. Following the transaction, the director now owns 55,135 shares of the company’s stock, valued at $1,259,834.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $68.00, for a total transaction of $68,000.00. Following the transaction, the director now directly owns 38,261 shares in the company, valued at approximately $2,601,748. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,197 shares of company stock valued at $2,471,656. 3.90% of the stock is currently owned by corporate insiders.

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Axon Enterprise Company 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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Institutional Ownership by Quarter for Axon Enterprise (NASDAQ:AAXN)

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