Korea Investment CORP Grows Position in Axon Enterprise, Inc $AXON

Key Points

• Korea Investment CORP increased its holdings in Axon Enterprise, Inc by 10.1%, owning 53,750 shares worth $28.27 million as of its latest SEC filing.
• Analysts are optimistic about Axon, with thirteen giving it a Buy rating and an average target price of $837.69 following a strong earnings report.
• In insider trading news, Jeffrey C. Kunins sold 7,891 shares while Hadi Partovi purchased 1,358 shares, indicating mixed activity among company executives.

Korea Investment CORP increased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,750 shares of the biotechnology company's stock after purchasing an additional 4,949 shares during the quarter. Korea Investment CORP owned 0.07% of Axon Enterprise worth $28,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXON. Northern Trust Corp raised its stake in Axon Enterprise by 1.2% during the 1st quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock valued at $381,692,000 after buying an additional 8,794 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Axon Enterprise by 20.5% in the first quarter. Brooklyn Investment Group now owns 441 shares of the biotechnology company's stock worth $232,000 after acquiring an additional 75 shares during the period. TriaGen Wealth Management LLC grew its holdings in shares of Axon Enterprise by 852.8% in the first quarter. TriaGen Wealth Management LLC now owns 3,754 shares of the biotechnology company's stock worth $1,974,000 after acquiring an additional 3,360 shares during the period. Versor Investments LP increased its position in Axon Enterprise by 597.8% during the first quarter. Versor Investments LP now owns 2,798 shares of the biotechnology company's stock valued at $1,472,000 after acquiring an additional 2,397 shares during the last quarter. Finally, Berkshire Capital Holdings Inc. lifted its stake in shares of Axon Enterprise by 157,600.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 15,770 shares of the biotechnology company's stock worth $8,294,000 after purchasing an additional 15,760 shares during the period. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXON shares. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a research report on Tuesday, August 5th. Northland Securities set a $800.00 target price on Axon Enterprise in a report on Tuesday, August 5th. JMP Securities raised their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research report on Tuesday, August 5th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $855.00 price objective (up from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Hadi Partovi acquired 1,358 shares of the stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the transaction, the director directly owned 237,938 shares of the company's stock, valued at $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey C. Kunins sold 7,891 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the sale, the insider directly owned 144,538 shares in the company, valued at $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,790 shares of company stock valued at $33,654,451 over the last quarter. 4.40% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

Shares of AXON stock traded up $2.73 during mid-day trading on Friday, hitting $766.24. The company had a trading volume of 395,415 shares, compared to its average volume of 739,771. Axon Enterprise, Inc has a 52-week low of $346.71 and a 52-week high of $885.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The stock's 50 day moving average price is $773.05 and its 200-day moving average price is $674.00. The company has a market capitalization of $60.15 billion, a P/E ratio of 189.20, a P/E/G ratio of 28.12 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business had revenue of $668.54 million during the quarter, compared to analysts' expectations of $641.77 million. During the same quarter last year, the business posted $1.20 EPS. The firm's revenue for the quarter was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

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.