Bank of Nova Scotia Has $3.54 Million Holdings in Axon Enterprise, Inc $AXON

Bank of Nova Scotia cut its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,337 shares of the biotechnology company's stock after selling 2,238 shares during the period. Bank of Nova Scotia's holdings in Axon Enterprise were worth $3,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Axon Enterprise by 1,198.7% in 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. Edgewood Management LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at about $846,516,000. Wellington Management Group LLP lifted its position in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after buying an additional 1,179,038 shares in the last quarter. Norges Bank acquired a new position in Axon Enterprise during the 4th quarter worth about $515,764,000. Finally, Sands Capital Management LLC grew its holdings in Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after acquiring an additional 167,095 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 over the last 90 days. Company insiders own 4.20% of the company's stock.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $547.65 on Wednesday. The stock has a market capitalization of $44.14 billion, a P/E ratio of 219.94, a P/E/G ratio of 10.72 and a beta of 1.38. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $488.89 and a two-hundred day moving average price of $477.58.

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 (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 EPS. Equities analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. The Goldman Sachs Group set a $535.00 target price on shares of Axon Enterprise in a research report on Thursday, May 7th. Piper Sandler raised their price target on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Citizens Jmp restated a "market outperform" rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $725.25.

Axon Enterprise Profile

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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