Legal & General Group Plc Purchases Shares of 436,433 Axon Enterprise, Inc $AXON

Legal & General Group Plc purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 436,433 shares of the biotechnology company’s stock, valued at approximately $244,669,000. Legal & General Group Plc owned 0.54% of Axon Enterprise as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Axon Enterprise in the second quarter worth about $22,799,000. Fiduciary Financial Advisors acquired a new position in Axon Enterprise in the second quarter valued at approximately $128,000. L2 Asset Management LLC purchased a new stake in Axon Enterprise in the 2nd quarter worth approximately $246,000. Whalen Wealth Management Inc. purchased a new stake in Axon Enterprise in the 2nd quarter worth approximately $502,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $4,202,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Buying and Selling

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction that occurred 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 transaction, the executive owned 49,710 shares in the company, 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. Insiders have sold 76,594 shares of company stock worth $41,236,386 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $607.48 on Thursday. The firm has a 50-day simple moving average of $553.45 and a 200-day simple moving average of $480.77. The stock has a market capitalization of $49.35 billion, a price-to-earnings ratio of 252.07, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $794.29.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. Axon Enterprise’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.12 earnings per share. On average, equities analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. UBS Group lifted their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a research report on Thursday, August 6th. Finally, Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise 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.