Tobam Buys 3,628 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Tobam raised its position in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 270.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,969 shares of the biotechnology company's stock after purchasing an additional 3,628 shares during the period. Tobam's holdings in Axon Enterprise were worth $2,613,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company's stock worth $5,019,886,000 after buying an additional 275,959 shares during the period. Geode Capital Management LLC raised its position in Axon Enterprise by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company's stock valued at $1,095,542,000 after purchasing an additional 65,097 shares during the last quarter. Capital World Investors raised its position in Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after purchasing an additional 841,772 shares during the last quarter. Alliancebernstein L.P. raised its position in Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after purchasing an additional 812,337 shares during the last quarter. Finally, Norges Bank bought a new position in Axon Enterprise during the 4th quarter valued at approximately $482,081,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Performance

AXON traded up $5.43 during midday trading on Friday, reaching $780.63. The company had a trading volume of 358,906 shares, compared to its average volume of 719,761. The business has a 50-day moving average of $669.47 and a two-hundred day moving average of $621.44. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise, Inc. has a 1 year low of $279.02 and a 1 year high of $806.64. The company has a market cap of $60.77 billion, a P/E ratio of 201.71, a P/E/G ratio of 5.17 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The business had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period in the prior year, the business posted $1.15 earnings per share. The company's revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts predict that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXON shares. The Goldman Sachs Group increased their target price on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Needham & Company LLC raised their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America raised their price objective on Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Northcoast Research lowered Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $699.55.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the transaction, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joshua Isner sold 9,905 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the transaction, the president now directly owns 298,809 shares of the company's stock, valued at approximately $220,530,006.27. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,969 shares of company stock worth $29,909,594 over the last 90 days. Corporate insiders own 4.40% 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.