E Fund Management Co. Ltd. Takes $9.67 Million Position in Axon Enterprise, Inc $AXON

E Fund Management Co. Ltd. acquired a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,249 shares of the biotechnology company’s stock, valued at approximately $9,670,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Axon Enterprise in the 2nd quarter valued at approximately $80,000. Csenge Advisory Group acquired a new position in shares of Axon Enterprise during the 2nd quarter worth $646,000. OV Management LLC acquired a new position in Axon Enterprise during the second quarter worth about $104,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $235,000. Finally, NewEdge Wealth LLC acquired a new stake in Axon Enterprise in the second quarter valued at $4,017,000. 79.08% of the stock is owned by institutional investors and hedge funds.

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Axon Enterprise Trading Up 4.2%

NASDAQ:AXON opened at $645.72 on Thursday. The business’s 50-day moving average is $536.03 and its two-hundred day moving average is $474.89. The firm has a market capitalization of $52.46 billion, a PE ratio of 267.93, a price-to-earnings-growth ratio of 10.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $794.29.

Axon Enterprise (NASDAQ:AXON – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping 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 firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the business posted $2.12 EPS. The firm’s revenue was up 35.3% compared to the same quarter last year. Research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the transaction, the insider directly owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 68,989 shares of company stock worth $36,016,932. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AXON. Morgan Stanley increased their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Citizens Jmp restated a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 target price 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 issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Get Our Latest Stock Analysis on Axon Enterprise

About Axon Enterprise

(Free Report)

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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