Empowered Funds LLC Acquires New Stake in Axon Enterprise, Inc $AXON

Empowered Funds LLC acquired a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,507 shares of the biotechnology company’s stock, valued at approximately $3,087,000.

A number of other institutional investors have also recently modified their holdings of AXON. Brighton Jones LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth about $480,000. NewEdge Advisors LLC raised its holdings in Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $284,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Axon Enterprise during the second quarter valued at approximately $3,467,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $518.30 on Wednesday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $792.16. The stock’s fifty day moving average is $565.59 and its 200 day moving average is $484.77. The stock has a market cap of $42.11 billion, a P/E ratio of 215.06, a P/E/G ratio of 9.20 and a beta of 1.39. 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 released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $876.42 million. During the same period in the previous year, the business earned $2.12 earnings per share. Axon Enterprise’s quarterly revenue was up 35.3% compared to the same quarter last year. Sell-side analysts anticipate that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler lifted their target price on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group upped their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Barclays lifted their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective 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. Finally, Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $730.92.

Insider Transactions at Axon Enterprise

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This trade represents a 2.44% 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. Over the last three months, insiders have sold 75,401 shares of company stock valued at $40,670,843. Company insiders own 4.20% of the company’s stock.

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.