Mirae Asset Global Investments Co. Ltd. bought a new position in Axon Enterprise, Inc (NASDAQ:AXON – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 60,981 shares of the biotechnology company’s stock, valued at approximately $25,766,000. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Axon Enterprise at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AXON. M & L Capital Management Ltd bought a new position in Axon Enterprise during the 3rd quarter valued at about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in Axon Enterprise in the 2nd quarter worth about $31,000. Wealth Enhancement Trust Services Inc. purchased a new stake in Axon Enterprise in the 3rd quarter worth about $33,000. Washington Trust Advisors Inc. raised its position in Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 65 shares during the period. Finally, Balance Wealth Partners LLC bought a new stake in Axon Enterprise in the third quarter worth about $44,000. Institutional investors own 79.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on AXON shares. Piper Sandler dropped their target price on Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. UBS Group upped 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. Morgan Stanley increased their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Argus raised their price target on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Finally, TD Cowen dropped their price objective on Axon Enterprise from $825.00 to $800.00 and set a “buy” rating for the company in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.38.
Check Out Our Latest Research Report on AXON
Axon Enterprise Price Performance
AXON opened at $425.43 on Tuesday. The company has a market capitalization of $34.56 billion, a price-to-earnings ratio of 176.53, a PEG ratio of 8.04 and a beta of 1.44. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $738.23. The business’s fifty day simple moving average is $459.39 and its 200-day simple moving average is $480.13.
Axon Enterprise (NASDAQ:AXON – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same period in the previous year, the company posted $2.12 earnings per share. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. On average, equities research analysts anticipate that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.
Insider Buying and Selling at Axon Enterprise
In other Axon Enterprise news, insider Isaiah Fields sold 1,017 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the transaction, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. This represents a 1.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. This trade represents a 0.32% 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. Insiders have sold 47,397 shares of company stock valued at $26,722,984 in the last 90 days. Insiders own 4.20% of the company’s stock.
Axon Enterprise 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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