N10 Assets LLC Acquires New Shares in Axon Enterprise, Inc $AXON

N10 Assets LLC acquired a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, HoldingsChannel reports. The fund acquired 13,808 shares of the biotechnology company’s stock, valued at approximately $7,741,000. Axon Enterprise comprises 3.3% of N10 Assets LLC’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. BlackRock Inc. boosted its stake 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 purchasing an additional 345,365 shares in the last quarter. Geode Capital Management LLC raised its stake in Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after buying an additional 35,544 shares in the last quarter. Sands Capital Management LLC raised its stake in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after buying an additional 167,095 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after buying an additional 1,179,038 shares during the period. Finally, Edgewood Management LLC purchased a new stake in Axon Enterprise during the fourth quarter worth $846,516,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus target price of $730.92.

Axon Enterprise Price Performance

NASDAQ AXON opened at $611.20 on Friday. The firm’s fifty day simple moving average is $557.20 and its two-hundred day simple moving average is $482.16. 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 $794.29. The firm has a market capitalization of $49.65 billion, a P/E ratio of 253.61, a P/E/G ratio of 9.86 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. Analysts forecast that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,594 shares of company stock worth $41,236,386 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

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.