Axon Enterprise, Inc $AXON Holdings Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 26.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 186,538 shares of the biotechnology company’s stock after acquiring an additional 38,966 shares during the period. CIBC Private Wealth Group LLC’s holdings in Axon Enterprise were worth $133,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestor Capital LLC raised its holdings in Axon Enterprise by 438,636.3% during the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after purchasing an additional 833,409 shares in the last quarter. Norges Bank bought a new position in Axon Enterprise during the 2nd quarter valued at $637,806,000. Vanguard Group Inc. increased its position in shares of Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after purchasing an additional 376,904 shares during the period. Jennison Associates LLC raised its stake in shares of Axon Enterprise by 53.8% in the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after buying an additional 330,213 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Axon Enterprise by 129.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock worth $444,124,000 after buying an additional 302,420 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Up 3.5%

Shares of Axon Enterprise stock opened at $506.57 on Wednesday. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91. The firm has a market capitalization of $40.73 billion, a PE ratio of 333.27, a price-to-earnings-growth ratio of 10.45 and a beta of 1.46. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $526.65 and its 200-day moving average is $604.44.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. The business had revenue of $796.72 million during the quarter, compared to analyst estimates of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.Axon Enterprise’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. Equities analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer H. Mak sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the sale, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares of the company’s stock, valued at approximately $1,546,240,339.28. This trade represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,634 shares of company stock worth $13,803,095 over the last ninety days. 5.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AXON shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research note on Monday, December 29th. Piper Sandler dropped their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research report on Tuesday, January 6th. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Finally, Barclays dropped their target price on shares of Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $762.93.

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.