Mitsubishi UFJ Asset Management Co. Ltd. Has $121.59 Million Position in Axon Enterprise, Inc $AXON

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 14.9% during the second quarter, Holdings Channel.com reports. The fund owned 216,886 shares of the biotechnology company’s stock after acquiring an additional 28,158 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Axon Enterprise were worth $121,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth $37,000. Creative Financial Designs Inc. ADV acquired a new position in Axon Enterprise in the fourth quarter valued at about $28,000. Camelot Portfolios LLC bought a new stake in Axon Enterprise during the fourth quarter worth about $30,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the fourth quarter worth about $34,000. Finally, Strive Financial Group LLC acquired a new stake in Axon Enterprise during the fourth quarter worth about $41,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AXON shares. JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley upped 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. Barclays increased 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. The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. Finally, TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $730.92.

Insiders Place Their Bets

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. The trade was a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $400.00, for a total transaction of $800,000.00. Following the transaction, the insider directly owned 52,813 shares of the company’s stock, valued at $21,125,200. The trade was a 3.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,989 shares of company stock worth $36,016,932 over the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Axon Enterprise Price Performance

Shares of AXON opened at $619.85 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $50.36 billion, a PE ratio of 257.20, a PEG ratio of 9.95 and a beta of 1.39. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $794.29. The business has a 50-day simple moving average of $532.07 and a two-hundred day simple moving average of $473.93.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for 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 revenue for the quarter was up 35.3% on a year-over-year basis. During the same period last year, the firm posted $2.12 earnings per share. Analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

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.