Andra AP fonden Buys 528,293 Shares of Axon Enterprise, Inc $AXON

Andra AP fonden boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2,618.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 548,469 shares of the biotechnology company’s stock after acquiring an additional 528,293 shares during the period. Axon Enterprise accounts for about 3.4% of Andra AP fonden’s portfolio, making the stock its 5th biggest position. Andra AP fonden’s holdings in Axon Enterprise were worth $307,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXON. State Street Corp lifted its position in Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after purchasing an additional 209,879,882 shares during the period. Bouchey Financial Group Ltd. acquired a new position in Axon Enterprise in the 2nd quarter worth about $215,000. The Manufacturers Life Insurance Company raised its holdings in Axon Enterprise by 8,432.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after buying an additional 3,496,493 shares during the last quarter. Barbara Oil Co. lifted its holdings in shares of Axon Enterprise by 100.0% during the second quarter. Barbara Oil Co. now owns 3,390 shares of the biotechnology company’s stock worth $2,046,000 after purchasing an additional 1,695 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Axon Enterprise by 1.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,443 shares of the biotechnology company’s stock valued at $2,491,000 after buying an additional 63 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 67,397 shares of company stock worth $38,160,884 in the last three months. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Argus raised their price objective on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Price Performance

Axon Enterprise stock traded up $6.83 during midday trading on Tuesday, reaching $458.89. 246,271 shares of the stock were exchanged, compared to its average volume of 1,053,399. The firm has a market cap of $37.28 billion, a PE ratio of 190.36, a PEG ratio of 8.43 and a beta of 1.40. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $792.16. The company’s fifty day moving average is $545.60 and its 200-day moving average is $485.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 EPS. On average, sell-side analysts forecast that Axon Enterprise, Inc will post 2.12 EPS for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.