Axon Enterprise, Inc $AXON Position Increased by Harel Insurance Investments & Financial Services Ltd.

Key Points

• Harel Insurance Investments & Financial Services Ltd. increased its Axon Enterprise stake by 40.7% in the first quarter, adding 4,360 shares to bring its total to 15,083 shares valued at about $6.4 million.
• Axon continues to draw heavy institutional interest, with large holders such as Vanguard, Geode Capital, Baillie Gifford, Sands Capital, and Wellington all reporting positions; overall, 79.08% of the stock is institutionally owned.
• Wall Street remains constructive on AXON after strong quarterly results: the company beat EPS and revenue estimates, posted 33.7% revenue growth, and analysts currently rate the stock Moderate Buy with an average target price of $725.25.

Harel Insurance Investments & Financial Services Ltd. increased its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 40.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,083 shares of the biotechnology company's stock after acquiring an additional 4,360 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Axon Enterprise were worth $6,406,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Axon Enterprise by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after acquiring an additional 53,060 shares during the period. Geode Capital Management LLC lifted its position in shares of Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock worth $1,265,657,000 after buying an additional 35,544 shares during the last quarter. Baillie Gifford & Co. boosted its position in Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after purchasing an additional 1,516,099 shares during the period. Sands Capital Management LLC boosted its holdings in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after buying an additional 167,095 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXON has been the subject of a number of research analyst reports. Morgan Stanley set a $600.00 price objective on shares of Axon Enterprise in a research report on Thursday, May 7th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research report on Thursday, May 7th. Barclays cut their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Needham & Company LLC lifted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $725.25.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares of the company's stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business'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 completion of the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,989 shares of company stock worth $30,527,983 over the last ninety days. Company insiders own 4.20% of the company's stock.

Axon Enterprise Trading Down 1.1%

Shares of AXON opened at $541.12 on Thursday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The stock has a market cap of $43.61 billion, a PE ratio of 217.32, a PEG ratio of 11.17 and a beta of 1.38. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The stock has a 50 day simple moving average of $467.24 and a 200-day simple moving average of $481.98.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business's revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 earnings per share. On average, sell-side analysts predict that Axon Enterprise, Inc will post 1.63 EPS for the current fiscal year.

Axon Enterprise 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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