UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Axon Enterprise, Inc $AXON

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 0.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 631,247 shares of the biotechnology company’s stock after selling 2,370 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Axon Enterprise were worth $353,883,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AXON. Rockefeller Capital Management L.P. increased its holdings in shares of Axon Enterprise by 53.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after purchasing an additional 4,002 shares during the last quarter. Legal & General Group Plc boosted its stake in Axon Enterprise by 1.3% during the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock worth $242,241,000 after buying an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Axon Enterprise in the 4th quarter valued at $13,116,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in Axon Enterprise in the 2nd quarter valued at $3,854,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Axon Enterprise in the 1st quarter worth $15,067,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $600.73 on Monday. The company’s 50 day simple moving average is $560.75 and its 200-day simple moving average is $483.34. The company has a market capitalization of $48.80 billion, a price-to-earnings ratio of 249.27, a price-to-earnings-growth ratio of 9.75 and a beta of 1.39. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $792.16. 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 data 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. 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 during the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter last year, the company posted $2.12 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, equities research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AXON. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Piper Sandler boosted their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the company 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. Finally, Morgan Stanley raised their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $730.92.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey C. Kunins sold 9,605 shares of Axon Enterprise stock in a transaction on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the sale, the insider directly owned 97,761 shares of the company’s stock, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,401 shares of company stock valued at $40,670,843 over the last ninety days. 4.20% of the stock is owned by insiders.

About Axon Enterprise

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.