Next Century Growth Investors LLC Boosts Stock Position in Axon Enterprise, Inc $AXON

Next Century Growth Investors LLC lifted its position in Axon Enterprise, Inc (NASDAQ:AXON) by 72.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,442 shares of the biotechnology company’s stock after buying an additional 2,716 shares during the quarter. Next Century Growth Investors LLC’s holdings in Axon Enterprise were worth $3,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NEOS Investment Management LLC raised its holdings in shares of Axon Enterprise by 82.7% in the 3rd quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company’s stock valued at $18,206,000 after buying an additional 11,482 shares during the period. Legal & General Group Plc raised its holdings in shares of Axon Enterprise by 1.3% in the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after buying an additional 5,419 shares during the period. Vanguard Group Inc. increased its holdings in Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after purchasing an additional 376,904 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Axon Enterprise during the 4th quarter worth about $13,116,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Axon Enterprise by 93.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock worth $13,270,000 after purchasing an additional 11,262 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 39,344 shares of company stock worth $19,267,315. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AXON has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. TD Cowen cut their price target on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Robert W. Baird set a $800.00 price target on Axon Enterprise in a report on Wednesday, February 25th. Needham & Company LLC cut their price target on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Citizens Jmp cut their price target on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $441.73 on Monday. The stock’s 50-day moving average is $410.34 and its two-hundred day moving average is $488.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The company has a market cap of $35.60 billion, a price-to-earnings ratio of 177.40, a price-to-earnings-growth ratio of 8.03 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts forecast that Axon Enterprise, Inc will post 1.82 EPS 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.