B. Metzler seel. Sohn & Co. AG Takes $3.85 Million Position in Axon Enterprise, Inc $AXON

Key Points

• B. Metzler seel. Sohn & Co. AG initiated a $3.85 million position in Axon Enterprise during the second quarter by purchasing 6,875 shares. Institutional investors and hedge funds collectively own 79.08% of the company.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $730.92.
• Axon exceeded quarterly expectations, reporting $1.88 in EPS and $904.39 million in revenue, up 35.3% year over year. However, the stock trades at a high valuation, with a P/E ratio of 260.48, while insiders sold roughly $35.2 million of shares over the past quarter.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,875 shares of the biotechnology company's stock, valued at approximately $3,854,000.

A number of other large investors have also recently added to or reduced their stakes in AXON. Brighton Jones LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth approximately $480,000. NewEdge Advisors LLC increased its holdings in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock valued at $1,207,000 after purchasing an additional 668 shares during the last quarter. Empowered Funds LLC raised its position in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock valued at $1,067,000 after purchasing an additional 157 shares during the period. Woodline Partners LP raised its position in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock valued at $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter worth about $284,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AXON shares. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Piper Sandler raised their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $730.92.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $627.75 on Friday. The business has a 50 day moving average of $543.11 and a 200-day moving average of $476.87. The company has a market capitalization of $51.00 billion, a P/E ratio of 260.48, a P/E/G ratio of 9.97 and a beta of 1.39. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same quarter last year, the firm earned $2.12 earnings per share. The company's revenue for the quarter was up 35.3% on a year-over-year basis. On average, equities research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, Director Jeri Williams sold 629 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $469.64, for a total transaction of $295,403.56. Following the sale, the director owned 1,141 shares of the company's stock, valued at approximately $535,859.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the sale, the president owned 169,125 shares of the company's stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 66,989 shares of company stock valued at $35,216,932 over the last quarter. Company 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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