Axon Enterprise, Inc $AXON Shares Bought by Clearbridge Investments LLC

Key Points

• Clearbridge Investments LLC increased its Axon Enterprise stake by 21.1% in the fourth quarter, ending with 343,910 shares valued at about $195.3 million.
• Several other institutional investors also adjusted holdings, and institutional ownership remains high at 79.08% of Axon’s shares.
• Axon’s latest earnings beat expectations, with EPS of $1.61 and revenue of $807.35 million, while analysts currently hold a Moderate Buy consensus with an average price target of $712.75.

Clearbridge Investments LLC boosted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 343,910 shares of the biotechnology company's stock after acquiring an additional 59,821 shares during the quarter. Clearbridge Investments LLC owned about 0.44% of Axon Enterprise worth $195,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Brighton Jones LLC acquired a new stake in Axon Enterprise during the 4th quarter worth about $480,000. NewEdge Advisors LLC lifted its holdings in shares of Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock valued at $1,207,000 after buying an additional 668 shares during the period. Empowered Funds LLC lifted its holdings in shares of Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock valued at $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP grew its holdings in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in Axon Enterprise during the second quarter worth about $284,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the transaction, the director directly owned 1,946 shares in the company, valued at approximately $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeri Williams sold 629 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $469.64, for a total transaction of $295,403.56. Following the transaction, the director owned 1,141 shares of the company's stock, valued at $535,859.24. This represents a 35.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,548 shares of company stock valued at $1,542,775. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

AXON has been the subject of a number of analyst reports. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a report on Thursday, May 7th. Citizens Jmp cut their target price on shares of Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. TD Cowen lowered their price target on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Finally, UBS Group lowered their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $712.75.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $486.12 on Monday. The stock has a market capitalization of $39.18 billion, a price-to-earnings ratio of 195.23, a PEG ratio of 8.84 and a beta of 1.45. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. 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 50-day moving average of $408.04 and a 200 day moving average of $491.56.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. During the same quarter last year, the firm posted $1.47 EPS. The business's revenue was up 33.7% on a year-over-year basis. Sell-side analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS 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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