Korea Investment CORP Has $29.02 Million Stake in Axon Enterprise, Inc $AXON

Korea Investment CORP reduced its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 30.9% in the third quarter, HoldingsChannel.com reports. The firm owned 40,438 shares of the biotechnology company’s stock after selling 18,064 shares during the period. Korea Investment CORP’s holdings in Axon Enterprise were worth $29,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NEOS Investment Management LLC boosted its position in shares of Axon Enterprise by 82.7% during the third 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 last quarter. Vanguard Group Inc. raised its position in Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after buying an additional 376,904 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Axon Enterprise by 3.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,423 shares of the biotechnology company’s stock valued at $132,349,000 after buying an additional 5,953 shares during the last quarter. BIT Capital GmbH lifted its stake in Axon Enterprise by 75.6% during the 3rd quarter. BIT Capital GmbH now owns 3,535 shares of the biotechnology company’s stock valued at $2,537,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC lifted its stake in Axon Enterprise by 180.7% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock valued at $997,000 after acquiring an additional 775 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the transaction, the insider directly owned 55,588 shares in the company, valued at $29,740,135.88. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brittany Bagley sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $580.00, for a total transaction of $1,160,000.00. Following the transaction, the chief financial officer directly owned 103,501 shares of the company’s stock, valued at $60,030,580. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,634 shares of company stock worth $14,963,095. Insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXON. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Craig Hallum reissued a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th. Robert W. Baird set a $800.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, Piper Sandler decreased their price objective on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $762.93.

Axon Enterprise Trading Down 2.6%

Shares of Axon Enterprise stock opened at $559.06 on Tuesday. The firm has a market cap of $44.95 billion, a PE ratio of 367.81, a P/E/G ratio of 12.25 and a beta of 1.46. Axon Enterprise, Inc has a 1 year low of $396.41 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29. The stock has a fifty day moving average price of $535.65 and a 200-day moving average price of $615.42.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.55. The company had revenue of $796.72 million for the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS. Equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

About Axon Enterprise

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.