Jupiter Topco LLC Takes $4.76 Million Position in Axon Enterprise, Inc $AXON

Jupiter Topco LLC acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, Holdings Channel reports. The institutional investor acquired 8,501 shares of the biotechnology company’s stock, valued at approximately $4,764,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Edgewood Management LLC acquired a new position in Axon Enterprise in the fourth quarter valued at approximately $846,516,000. Wellington Management Group LLP boosted its holdings in shares of Axon Enterprise by 326.9% during the 4th 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 in the last quarter. Norges Bank acquired a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $515,764,000. Legal & General Group Plc acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $244,669,000. Finally, BlackRock Inc. increased its stake in shares of Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after acquiring an additional 345,365 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler raised their price target 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. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley upped their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $566.56 on Tuesday. 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 twelve month low of $339.01 and a twelve month high of $792.16. The stock’s 50 day moving average is $563.88 and its 200-day moving average is $484.18. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 235.09, a PEG ratio of 9.75 and a beta of 1.39.

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

Insider Activity

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction dated 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 sale, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 75,401 shares of company stock valued at $40,670,843. 4.20% of the stock is currently 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.