Vanguard Group Inc. Increases Stake in Axon Enterprise, Inc $AXON

Vanguard Group Inc. boosted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 3.5% in the second quarter, Holdings Channel.com reports. The firm owned 8,937,260 shares of the biotechnology company’s stock after acquiring an additional 305,252 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Axon Enterprise worth $7,399,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXON. TCI Wealth Advisors Inc. acquired a new stake in Axon Enterprise during the second quarter worth about $214,000. Duncker Streett & Co. Inc. grew its holdings in shares of Axon Enterprise by 3.2% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 14,501 shares of the biotechnology company’s stock worth $12,006,000 after purchasing an additional 448 shares during the period. EFG Asset Management North America Corp. increased its position in Axon Enterprise by 17.8% during the 2nd quarter. EFG Asset Management North America Corp. now owns 12,701 shares of the biotechnology company’s stock worth $10,511,000 after purchasing an additional 1,918 shares in the last quarter. New York Life Investment Management LLC raised its holdings in Axon Enterprise by 3.2% in the second quarter. New York Life Investment Management LLC now owns 11,044 shares of the biotechnology company’s stock valued at $9,144,000 after buying an additional 341 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise in the second quarter valued at approximately $284,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Thursday, November 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Craig Hallum upgraded Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. Finally, UBS Group reduced their price target on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $814.00.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $591.04, for a total transaction of $5,910,400.00. Following the completion of the transaction, the chief executive officer directly owned 3,023,982 shares of the company’s stock, valued at $1,787,294,321.28. This trade represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brittany Bagley sold 2,500 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $610.00, for a total transaction of $1,525,000.00. Following the completion of the sale, the chief financial officer directly owned 91,092 shares of the company’s stock, valued at $55,566,120. The trade was a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,622 shares of company stock worth $26,439,364 over the last three months. 4.40% of the stock is owned by corporate insiders.

Axon Enterprise Stock Down 1.7%

Shares of NASDAQ AXON opened at $533.77 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise, Inc has a 1 year low of $469.24 and a 1 year high of $885.91. The stock’s 50-day simple moving average is $694.97 and its 200-day simple moving average is $734.66. The firm has a market cap of $42.12 billion, a price-to-earnings ratio of 131.80, a PEG ratio of 29.49 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. During the same period in the prior year, the company posted $1.45 EPS. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

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.