Parkside Financial Bank & Trust Boosts Stake in Axon Enterprise, Inc $AXON

Parkside Financial Bank & Trust raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 8,723.6% during the 2nd quarter, Holdings Channel reports. The fund owned 19,412 shares of the biotechnology company’s stock after purchasing an additional 19,192 shares during the period. Axon Enterprise comprises approximately 0.7% of Parkside Financial Bank & Trust’s holdings, making the stock its 23rd largest position. Parkside Financial Bank & Trust’s holdings in Axon Enterprise were worth $10,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in AXON. Rockefeller Capital Management L.P. boosted its holdings in shares of Axon Enterprise by 53.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after buying an additional 4,002 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after acquiring an additional 5,419 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Axon Enterprise during the fourth quarter valued at approximately $13,116,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in Axon Enterprise during the second quarter valued at approximately $3,854,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Axon Enterprise in the first quarter valued at approximately $15,067,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

AXON stock opened at $515.67 on Tuesday. The firm’s fifty day simple moving average is $569.57 and its 200-day simple moving average is $487.23. The company has a market capitalization of $41.89 billion, a P/E ratio of 213.97, a price-to-earnings-growth ratio of 10.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the prior year, the business earned $2.12 earnings per share. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AXON shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, September 2nd. Morgan Stanley raised their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Piper Sandler upped their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Argus increased their price objective on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 9,930 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $548.77, for a total value of $5,449,286.10. Following the completion of the transaction, the chief executive officer directly owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. The trade was a 0.33% decrease in their ownership of the stock. 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 three months, insiders have sold 56,380 shares of company stock valued at $32,582,366. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Company 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.