Axon Enterprise, Inc $AXON Stock Position Raised by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its Axon Enterprise stake by 1.3% in the fourth quarter, bringing holdings to 426,533 shares valued at about $242.2 million. Institutional ownership remains high, at 79.08% of the company.
• Axon shares were up 1.6% as the stock opened at $391.32, though it remains well below its 52-week high of $885.91. The company also trades with a sizable valuation at a 157.16 P/E ratio.
• For its latest quarter, Axon reported $1.61 EPS and $807.35 million in revenue, both ahead of expectations, with revenue rising 33.7% year over year. Analysts currently have a Moderate Buy consensus and a price target of $712.75.

Legal & General Group Plc lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 426,533 shares of the biotechnology company's stock after buying an additional 5,419 shares during the period. Legal & General Group Plc owned 0.54% of Axon Enterprise worth $242,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Baillie Gifford & Co. grew its position in Axon Enterprise by 1,198.7% in the 4th 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 last quarter. Vanguard Group Inc. grew its position in Axon Enterprise by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock worth $6,684,217,000 after purchasing an additional 376,904 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Axon Enterprise by 23.0% in the 4th 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 during the last quarter. Artisan Partners Limited Partnership grew its position in Axon Enterprise by 2,541.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 96,053 shares of the biotechnology company's stock worth $68,931,000 after purchasing an additional 99,988 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Axon Enterprise by 57.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 207,429 shares of the biotechnology company's stock worth $117,805,000 after purchasing an additional 75,567 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Up 1.6%

Axon Enterprise stock opened at $391.32 on Thursday. The firm has a 50 day simple moving average of $410.07 and a 200-day simple moving average of $496.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The stock has a market capitalization of $31.54 billion, a PE ratio of 157.16, a price-to-earnings-growth ratio of 7.01 and a beta of 1.44. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during 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 business's revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. As a group, equities research analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the subject of several recent analyst reports. Citizens Jmp decreased 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 research report on Thursday, May 7th. Barclays decreased their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Piper Sandler decreased their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Axon Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

Insider Activity 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 shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erika Nardini sold 198 shares of the stock in a transaction that occurred 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 owned 1,946 shares of the company's stock, valued at $985,804.68. This trade represents a 9.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,855 shares of company stock valued at $2,907,428. Insiders own 4.20% of the company's stock.

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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