40,682 Shares in Axon Enterprise, Inc $AXON Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,682 shares of the biotechnology company's stock, valued at approximately $22,799,000. The Manufacturers Life Insurance Company owned 0.05% of Axon Enterprise as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at $31,000. AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $34,000. Darwin Wealth Management LLC purchased a new stake in Axon Enterprise in the 2nd quarter valued at $37,000. Finally, Strive Financial Group LLC purchased a new stake in Axon Enterprise in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey C. Kunins sold 9,605 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 76,594 shares of company stock worth $41,236,386. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $611.20 on Friday. 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 company has a market cap of $49.65 billion, a P/E ratio of 253.61, a PEG ratio of 9.86 and a beta of 1.39. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $794.29. The company has a 50-day moving average price of $557.20 and a 200 day moving average price of $482.16.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm's quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. Research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AXON. Needham & Company LLC reiterated a "buy" rating on shares of Axon Enterprise in a research note 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 report on Thursday, August 6th. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Citizens Jmp restated a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, Morgan Stanley boosted their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $730.92.

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.

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