Investment Management Corp of Ontario Has $1.61 Million Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Investment Management Corp of Ontario raised its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 13.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,712 shares of the biotechnology company’s stock after acquiring an additional 330 shares during the quarter. Investment Management Corp of Ontario’s holdings in Axon Enterprise were worth $1,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in Axon Enterprise in the 4th quarter valued at $40,000. Y.D. More Investments Ltd acquired a new stake in Axon Enterprise in the 4th quarter valued at $45,000. Stonebridge Financial Group LLC acquired a new stake in Axon Enterprise in the 4th quarter valued at $53,000. GPS Wealth Strategies Group LLC increased its stake in Axon Enterprise by 74.1% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 94 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 40 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new stake in Axon Enterprise in the 4th quarter valued at $59,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $640.91.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $684.59 on Monday. Axon Enterprise, Inc. has a twelve month low of $273.52 and a twelve month high of $715.99. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $564.50 and a two-hundred day simple moving average of $585.83. The stock has a market capitalization of $53.29 billion, a price-to-earnings ratio of 176.90, a price-to-earnings-growth ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The business had revenue of $603.63 million during the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter in the previous year, the company earned $1.15 EPS. The business’s revenue was up 31.3% on a year-over-year basis. Analysts forecast that Axon Enterprise, Inc. will post 5.8 EPS for the current year.

Insider Activity

In other news, Director Jeri Williams sold 307 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the transaction, the chief executive officer now owns 3,063,982 shares of the company’s stock, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.