Axon Enterprise, Inc $AXON Shares Newly Bought by Verity Asset Management Inc.

Verity Asset Management Inc. bought a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,462 shares of the biotechnology company’s stock, valued at approximately $618,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AXON. State Street Corp grew its position in Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after acquiring an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Axon Enterprise by 18,050.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after acquiring an additional 13,127,348 shares during the last quarter. BlackRock Inc. lifted its holdings 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 worth $4,672,432,000 after acquiring an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Axon Enterprise by 391,214.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after purchasing an additional 6,987,098 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock valued at $1,802,719,000 after purchasing an additional 4,183,302 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity

In related news, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the transaction, the insider directly owned 56,264 shares in the company, valued at approximately $27,032,038.80. The trade was a 1.78% 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 have sold a total of 47,397 shares of company stock worth $26,722,984 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXON shares. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Piper Sandler lowered their price target on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Royal Bank Of Canada restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Morgan Stanley raised their price objective 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, The Goldman Sachs Group reduced their price objective on Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $688.38.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $424.18 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $665.07. The business’s 50 day simple moving average is $451.99 and its two-hundred day simple moving average is $478.00. The stock has a market capitalization of $34.46 billion, a P/E ratio of 176.01, a price-to-earnings-growth ratio of 7.92 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Analysts forecast that Axon Enterprise, Inc will post 2.10 EPS for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.