Defender Capital LLC. grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 25.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 74,485 shares of the biotechnology company’s stock after acquiring an additional 15,195 shares during the period. Axon Enterprise makes up approximately 13.6% of Defender Capital LLC.’s portfolio, making the stock its 2nd largest position. Defender Capital LLC.’s holdings in Axon Enterprise were worth $41,757,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its holdings in shares of Axon Enterprise by 53.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after acquiring an additional 4,002 shares during the last quarter. Legal & General Group Plc grew its position in shares of Axon Enterprise by 1.3% in the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after purchasing an additional 5,419 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Axon Enterprise in the fourth quarter valued at $13,116,000. Arrowstreet Capital Limited Partnership purchased a new stake in Axon Enterprise in the first quarter valued at approximately $15,067,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Axon Enterprise by 40.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company’s stock valued at $6,406,000 after purchasing an additional 4,360 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Axon Enterprise
In other news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the transaction, the director directly owned 3,632 shares of the company’s stock, valued at approximately $1,739,619.04. This represents a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 58,989 shares of company stock worth $30,527,983. 4.20% of the stock is currently owned by company insiders.
Axon Enterprise Trading Up 4.4%
Axon Enterprise (NASDAQ:AXON – Get Free Report) last released its quarterly 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 return on equity of 2.84% and a net margin of 6.19%.The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter last year, the company posted $2.12 EPS. Axon Enterprise’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, research analysts anticipate that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on AXON. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. UBS Group increased their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Piper Sandler increased their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $730.92.
Read Our Latest Analysis on Axon Enterprise
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.
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