6,406 Shares in Axon Enterprise, Inc $AXON Bought by Bank of Nova Scotia

Bank of Nova Scotia bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,406 shares of the biotechnology company's stock, valued at approximately $3,587,000.

A number of other large investors also recently modified their holdings of the business. Edgewood Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at about $846,516,000. Wellington Management Group LLP boosted its position in shares of Axon Enterprise by 326.9% in the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after acquiring an additional 1,179,038 shares during the period. Norges Bank purchased a new position in Axon Enterprise during the fourth quarter valued at approximately $515,764,000. BlackRock Inc. grew its stake in Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock valued at $4,672,432,000 after acquiring an additional 345,365 shares in the last quarter. Finally, Styrax Capital LP bought a new stake in Axon Enterprise during the 1st quarter worth approximately $84,938,000. 79.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXON has been the subject of several research analyst reports. Barclays lifted their price target on 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. raised their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Morgan Stanley boosted their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Piper Sandler upped their target price on Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $730.92.

Insider Activity

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise 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 completion of the sale, the executive owned 49,710 shares of the company's stock, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the company's stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 76,594 shares of company stock worth $41,236,386. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Stock Up 2.6%

AXON stock opened at $613.26 on Wednesday. The business's 50 day moving average price is $549.76 and its two-hundred day moving average price is $479.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. The company has a market capitalization of $49.82 billion, a price-to-earnings ratio of 254.47, a price-to-earnings-growth ratio of 9.70 and a beta of 1.39. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million during the quarter, compared to analysts' expectations of $876.42 million. During the same period last year, the company posted $2.12 EPS. Axon Enterprise's revenue was up 35.3% on a year-over-year basis. As a group, analysts forecast 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.

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