Axon Enterprise, Inc $AXON Shares Purchased by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC increased its Axon Enterprise stake by 38.4% in the fourth quarter, adding 38,183 shares to bring its total to 137,521 shares worth about $78.1 million.
• Axon’s latest quarterly results beat expectations, with earnings of $1.61 per share and revenue of $807.35 million, both topping analyst estimates. Revenue rose 33.7% year over year.
• Analysts remain mostly positive, despite some lower price targets; the stock has a consensus “Moderate Buy” rating with an average target of $712.75, though some firms recently trimmed their targets.

ProShare Advisors LLC raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 38.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,521 shares of the biotechnology company's stock after buying an additional 38,183 shares during the period. ProShare Advisors LLC owned about 0.17% of Axon Enterprise worth $78,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock worth $5,319,928,000 after purchasing an additional 53,060 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of 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 in the last quarter. Jennison Associates LLC lifted its stake in shares of Axon Enterprise by 53.8% during the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock worth $677,412,000 after purchasing an additional 330,213 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Axon Enterprise by 23.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock worth $476,089,000 after purchasing an additional 156,647 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Axon Enterprise by 1.6% during the third quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company's stock worth $533,871,000 after purchasing an additional 11,726 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Trading Down 1.8%

Shares of NASDAQ AXON opened at $392.34 on Wednesday. The stock's 50 day moving average price is $425.17 and its two-hundred day moving average price is $508.74. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The stock has a market capitalization of $31.62 billion, a P/E ratio of 157.57, a PEG ratio of 9.39 and a beta of 1.44. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm's revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 earnings per share. On average, analysts anticipate that Axon Enterprise, Inc will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, CAO Jennifer H. Mak sold 1,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the sale, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. This represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erika Nardini sold 198 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the sale, the director directly owned 1,946 shares in the company, valued at approximately $985,804.68. This trade represents a 9.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,855 shares of company stock worth $7,109,828. Corporate insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXON. Piper Sandler reduced their price objective on Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Weiss Ratings raised shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, UBS Group reduced their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $712.75.

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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