Renaissance Technologies LLC Purchases New Stake in Axon Enterprise Inc (AAXN)
Renaissance Technologies LLC purchased a new position in shares of Axon Enterprise Inc (NASDAQ:AAXN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 265,852 shares of the industrial products company’s stock, valued at approximately $16,797,000. Renaissance Technologies LLC owned 0.46% of Axon Enterprise as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of AAXN. BlackRock Inc. lifted its position in Axon Enterprise by 7.6% during the 2nd quarter. BlackRock Inc. now owns 9,083,739 shares of the industrial products company’s stock worth $573,912,000 after acquiring an additional 637,690 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Axon Enterprise during the 2nd quarter worth about $14,197,000. WINTON GROUP Ltd acquired a new stake in Axon Enterprise during the 1st quarter worth about $6,455,000. Federated Investors Inc. PA acquired a new stake in Axon Enterprise during the 2nd quarter worth about $10,259,000. Finally, First Trust Advisors LP acquired a new stake in Axon Enterprise during the 2nd quarter worth about $6,249,000. 82.23% of the stock is owned by institutional investors.
A number of analysts have commented on AAXN shares. Imperial Capital raised Axon Enterprise from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $50.00 to $62.00 in a research report on Wednesday, August 8th. Zacks Investment Research cut Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. TheStreet cut Axon Enterprise from a “b-” rating to a “c” rating in a research report on Thursday, August 9th. BidaskClub cut Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Finally, Dougherty & Co cut Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Monday, August 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $62.64.
Shares of AAXN stock opened at $67.61 on Friday. The stock has a market capitalization of $3.91 billion, a PE ratio of 250.22, a P/E/G ratio of 5.22 and a beta of 1.10. Axon Enterprise Inc has a 52-week low of $20.57 and a 52-week high of $76.45.
Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.11. The business had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $95.74 million. Axon Enterprise had a return on equity of 11.80% and a net margin of 5.35%. sell-side analysts expect that Axon Enterprise Inc will post 0.51 earnings per share for the current year.
About Axon Enterprise
Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.
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