Assenagon Asset Management S.A. Increases Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Assenagon Asset Management S.A. boosted its stake in shares of Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 193,397 shares of the biotechnology company's stock after purchasing an additional 48,098 shares during the period. Assenagon Asset Management S.A. owned approximately 0.25% of Axon Enterprise worth $101,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXON. Savant Capital LLC increased its holdings in shares of Axon Enterprise by 5.7% in the fourth quarter. Savant Capital LLC now owns 1,080 shares of the biotechnology company's stock valued at $642,000 after purchasing an additional 58 shares during the period. Principal Securities Inc. raised its holdings in shares of Axon Enterprise by 255.7% during the fourth quarter. Principal Securities Inc. now owns 1,085 shares of the biotechnology company's stock worth $645,000 after purchasing an additional 780 shares during the last quarter. Empowered Funds LLC lifted its position in Axon Enterprise by 89.2% during the fourth quarter. Empowered Funds LLC now owns 1,871 shares of the biotechnology company's stock valued at $1,112,000 after purchasing an additional 882 shares during the period. Xponance Inc. raised its stake in shares of Axon Enterprise by 3.5% during the 4th quarter. Xponance Inc. now owns 16,469 shares of the biotechnology company's stock valued at $9,788,000 after buying an additional 560 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter worth about $480,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Up 0.3%

Axon Enterprise stock traded up $2.53 during midday trading on Thursday, reaching $780.89. 90,481 shares of the stock traded hands, compared to its average volume of 720,537. The firm has a market cap of $60.79 billion, a PE ratio of 201.78, a price-to-earnings-growth ratio of 5.17 and a beta of 1.29. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $658.49 and a two-hundred day simple moving average of $619.52. Axon Enterprise, Inc. has a 12-month low of $279.02 and a 12-month high of $806.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The company had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The firm's quarterly revenue was up 31.3% on a year-over-year basis. Research analysts expect that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the transaction, the director now directly owns 17,740 shares of the company's stock, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeri Williams sold 307 shares of Axon Enterprise stock in a transaction on Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now directly owns 1,627 shares of the company's stock, valued at approximately $899,275.44. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,969 shares of company stock worth $29,909,594. Company insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Craig Hallum downgraded Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Northcoast Research lowered shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC upped their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays lifted their price target on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group increased their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and an average price target of $699.55.

About Axon Enterprise

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.