Castleark Management LLC purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON – Free Report) during the second quarter, HoldingsChannel reports. The firm purchased 23,423 shares of the biotechnology company’s stock, valued at approximately $13,131,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Axon Enterprise by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock valued at $5,319,928,000 after acquiring an additional 53,060 shares during the period. BlackRock Inc. grew its stake in shares of Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after purchasing an additional 345,365 shares during the period. Geode Capital Management LLC grew its stake in shares of Axon Enterprise by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock valued at $1,265,657,000 after purchasing an additional 35,544 shares during the period. Sands Capital Management LLC increased its position in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.
Insiders Place Their Bets
In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 76,594 shares of company stock valued at $41,236,386. Insiders own 4.20% of the company’s stock.
Axon Enterprise Stock Performance
Axon Enterprise (NASDAQ:AXON – Get Free Report) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter in the previous year, the company earned $2.12 EPS. Axon Enterprise’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on AXON. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $715.00 price target on shares of Axon Enterprise in a research note on Thursday, August 6th. Barclays boosted their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $730.92.
Read Our Latest Research Report on AXON
Axon Enterprise Company Profile
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.
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