Signaturefd LLC raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 7,380.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 78,770 shares of the biotechnology company’s stock after purchasing an additional 77,717 shares during the period. Axon Enterprise makes up approximately 0.4% of Signaturefd LLC’s portfolio, making the stock its 28th biggest holding. Signaturefd LLC’s holdings in Axon Enterprise were worth $33,282,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after purchasing an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after buying an additional 13,127,348 shares during the last quarter. BlackRock Inc. boosted its position in shares of Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Axon Enterprise by 391,214.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after buying an additional 6,987,098 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Axon Enterprise by 5,022.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after buying an additional 4,183,302 shares in the last quarter. 79.08% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on AXON. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a research report on Thursday, October 15th. Piper Sandler decreased their price objective on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus target price of $689.94.
Read Our Latest Analysis on Axon Enterprise
Axon Enterprise Stock Performance
NASDAQ AXON opened at $420.37 on Friday. The company has a market capitalization of $34.15 billion, a PE ratio of 174.43, a price-to-earnings-growth ratio of 7.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $764.02. The company has a 50-day simple moving average of $480.64 and a 200 day simple moving average of $473.90.
Axon Enterprise (NASDAQ:AXON – Get Free Report) last released its earnings results on Wednesday, August 5th. 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 firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same period in the previous year, the company earned $2.12 earnings per share. The company’s quarterly revenue was up 35.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current year.
Insider Transactions at Axon Enterprise
In other news, CEO Patrick Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the sale, the president directly owned 296,974 shares of the company’s stock, valued at approximately $170,590,774.82. This trade represents a 5.35% decrease in their position. 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. Insiders have sold a total of 47,397 shares of company stock worth $26,722,984 over the last 90 days. 4.20% of the stock is owned by insiders.
Axon Enterprise Company Profile
Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.
Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.
The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.
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