CIBC Asset Management Inc Grows Position in Axon Enterprise, Inc $AXON

CIBC Asset Management Inc increased its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 32.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,953 shares of the biotechnology company’s stock after buying an additional 10,870 shares during the quarter. CIBC Asset Management Inc’s holdings in Axon Enterprise were worth $24,962,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Axon Enterprise during the 4th quarter worth approximately $480,000. NewEdge Advisors LLC lifted its position in Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after acquiring an additional 668 shares during the period. Empowered Funds LLC lifted its position in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP lifted its position in Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in Axon Enterprise during the 2nd quarter worth approximately $284,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeri Williams sold 629 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $469.64, for a total value of $295,403.56. Following the completion of the sale, the director directly owned 1,141 shares of the company’s stock, valued at $535,859.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 52,813 shares of the company’s stock, valued at $21,125,200. This represents a 3.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,548 shares of company stock valued at $1,542,775 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXON has been the subject of a number of recent research reports. Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. JPMorgan Chase & Co. increased their price objective on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Barclays decreased their price objective on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Citizens Jmp decreased their price objective on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $712.75.

Axon Enterprise News Roundup

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon’s new Echodyne partnership could deepen its drone and counter-drone capabilities, supporting its push into a high-growth public safety market. Is Axon (AXON) Quietly Building a Defensive Moat With Its New Drone Radar Partnership?
• Positive Sentiment: Axon’s Software & Services segment is showing strong momentum, with recurring revenue and software adoption continuing to expand. Axon’s Software & Services Segment Gains Momentum: Can It Sustain?
• Positive Sentiment: Market commentary continues to frame Axon as part of the “new age defense” and cybersecurity-related trade, which may be helping investor sentiment toward the stock. Palantir, Axon, Crowdstrike, and Cloudflare: New age defense stocks
• Neutral Sentiment: A director sold a relatively small block of shares under a pre-arranged trading plan, which is worth noting but does not necessarily signal a change in fundamentals. Caitlin Elizabeth Kalinowski Sells 564 Shares of Axon Enterprise (NASDAQ:AXON) Stock
• Negative Sentiment: Insider selling by two directors may create some short-term caution, even though the sales were disclosed and appear limited in size relative to Axon’s market value. Caitlin Elizabeth Kalinowski Sells 564 Shares of Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise Stock Down 1.8%

AXON opened at $481.48 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The business has a 50 day simple moving average of $406.39 and a 200-day simple moving average of $492.25. The stock has a market capitalization of $38.81 billion, a P/E ratio of 193.37, a P/E/G ratio of 8.91 and a beta of 1.45. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. On average, equities analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.