Man Group plc Acquires New Position in Axon Enterprise, Inc $AXON

Man Group plc acquired a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,354 shares of the biotechnology company’s stock, valued at approximately $5,805,000.

Several other large investors have also recently added to or reduced their stakes in AXON. Brighton Jones LLC bought a new position in Axon Enterprise in the 4th quarter worth about $480,000. NewEdge Advisors LLC grew its holdings in Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC increased its position in Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP increased its position in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in Axon Enterprise during the 2nd quarter valued at $284,000. 79.08% of the stock is owned by institutional investors and hedge funds.

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 that occurred on 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 sale, the chief executive officer owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. The trade was a 2.44% 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. Over the last 90 days, insiders have sold 76,594 shares of company stock valued at $41,236,386. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AXON shares. Piper Sandler upped their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Barclays boosted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $730.92.

Axon Enterprise Stock Performance

Shares of AXON opened at $600.73 on Friday. The company’s 50 day moving average price is $560.75 and its 200 day moving average price is $482.99. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $792.16. The company has a market capitalization of $48.80 billion, a PE ratio of 249.27, a PEG ratio of 9.75 and a beta of 1.39. 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 (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 company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period last year, the business earned $2.12 EPS. Research analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Axon Enterprise Company 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.