Axon Enterprise, Inc (NASDAQ:AXON) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Axon Enterprise by 13.8% during Q1, now owning 134,825 shares valued at approximately $70.9 million.
• Major institutional investors have significantly boosted their holdings, with Capital World Investors increasing its stake by 86.4% to over $1 billion in value.
• Axon Enterprise reported earnings of $2.12 per share, exceeding analysts' expectations, with revenue growth of 32.6% compared to the previous year.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,825 shares of the biotechnology company's stock after purchasing an additional 16,330 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Axon Enterprise worth $70,911,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Axon Enterprise by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after acquiring an additional 185,571 shares during the period. Capital World Investors raised its stake in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after purchasing an additional 841,772 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Axon Enterprise by 29.8% in the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after purchasing an additional 212,931 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Axon Enterprise by 19.8% in the fourth quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after purchasing an additional 118,469 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXON has been the subject of several research analyst reports. Barclays raised their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group raised their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. JMP Securities raised their price objective on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Wolfe Research started coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating on the stock. Finally, Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 target price on the stock in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Price Performance

AXON traded down $50.12 during trading on Tuesday, hitting $768.57. The company's stock had a trading volume of 997,067 shares, compared to its average volume of 711,050. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The business's fifty day simple moving average is $775.48 and its 200 day simple moving average is $666.90. The firm has a market capitalization of $60.33 billion, a price-to-earnings ratio of 189.77, a P/E/G ratio of 30.92 and a beta of 1.36. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. The business's revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. On average, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In other news, CAO Jennifer H. Mak sold 75 shares of Axon Enterprise stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $771.81, for a total value of $57,885.75. Following the sale, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at $11,762,384.40. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $738.84, for a total value of $960,492.00. Following the transaction, the director owned 4,829 shares in the company, valued at approximately $3,567,858.36. This represents a 21.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,585 shares of company stock valued at $16,100,838. Insiders own 5.70% of the company's stock.

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.