Banque Cantonale Vaudoise Buys Shares of 5,388 Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Banque Cantonale Vaudoise acquired 5,388 shares of Axon Enterprise, Inc valued at approximately $2.83 million during the first quarter, signaling institutional interest in the biotechnology company.
• Axon Enterprise reported $1.41 earnings per share (EPS) for the latest quarter, surpassing estimates and indicating a 31.3% increase in revenue compared to the previous year.
• Several analysts have raised their price targets for Axon shares, with Bank of America setting a new target at $895.00 and maintaining a "buy" rating, reflecting positive sentiment towards the stock.

Banque Cantonale Vaudoise purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,388 shares of the biotechnology company's stock, valued at approximately $2,834,000.

Several other large investors have also modified their holdings of AXON. Capital World Investors lifted its position in shares of Axon Enterprise by 86.4% during the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Axon Enterprise by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 551,197 shares of the biotechnology company's stock worth $327,587,000 after purchasing an additional 249,513 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Axon Enterprise by 230.2% during the fourth quarter. Two Sigma Advisers LP now owns 220,600 shares of the biotechnology company's stock worth $131,107,000 after purchasing an additional 153,800 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Insider Activity

In related news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the completion of the sale, the director directly owned 4,829 shares in the company, valued at approximately $3,567,858.36. This trade represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the sale, the president owned 268,735 shares of the company's stock, valued at $208,643,166.65. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock valued at $25,090,528 in the last ninety days. 4.40% of the stock is owned by company insiders.

Axon Enterprise Price Performance

NASDAQ:AXON traded down $24.81 during trading hours on Friday, reaching $730.68. 75,464 shares of the company's stock were exchanged, compared to its average volume of 693,343. The company has a market capitalization of $56.88 billion, a P/E ratio of 176.49, a price-to-earnings-growth ratio of 83.44 and a beta of 1.29. Axon Enterprise, Inc has a 12 month low of $279.02 and a 12 month high of $830.21. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. The business's 50-day simple moving average is $764.32 and its two-hundred day simple moving average is $655.08.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $603.63 million during the quarter, compared to analysts' expectations of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AXON. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC increased their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and a consensus target price of $772.08.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.