China Universal Asset Management Co. Ltd. Raises Stake in Axon Enterprise, Inc (NASDAQ:AXON)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 52.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,893 shares of the biotechnology company's stock after purchasing an additional 652 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Axon Enterprise were worth $996,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Fourth Dimension Wealth LLC acquired a new position in Axon Enterprise in the fourth quarter valued at $30,000. Bartlett & CO. Wealth Management LLC increased its position in shares of Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Axon Enterprise during the first quarter worth about $32,000. Alpine Bank Wealth Management bought a new stake in shares of Axon Enterprise during the first quarter worth about $40,000. Finally, Elequin Capital LP bought a new stake in shares of Axon Enterprise during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AXON shares. Wolfe Research started coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays upped their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America upped their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Needham & Company LLC upped their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $699.55.

Insider Transactions at Axon Enterprise

In related news, CFO Brittany Bagley sold 3,400 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the transaction, the chief financial officer owned 131,833 shares of the company's stock, valued at approximately $92,283,100. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the sale, the director directly owned 17,740 shares of the company's stock, valued at $13,482,400. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,642 shares of company stock worth $30,500,428. Company insiders own 4.40% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock traded down $3.37 during trading on Friday, reaching $729.62. 1,120,957 shares of the company's stock traded hands, compared to its average volume of 545,551. The company has a market capitalization of $56.80 billion, a P/E ratio of 176.24, a PEG ratio of 83.99 and a beta of 1.29. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The firm's 50-day moving average is $752.67 and its 200 day moving average is $641.02. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. During the same period in the prior year, the company posted $1.15 EPS. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. Equities research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current year.

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.