Axon Enterprise, Inc (NASDAQ:AXON) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Axon Enterprise by 48%, owning approximately 0.13% of the company, valued at $53.7 million.
• Axon Enterprise reported earnings of $2.12 per share, surpassing estimates by $0.58, with revenue up 32.6% year-over-year.
• Analysts have set new price targets for Axon Enterprise, with Bank of America raising its target from $895 to $1,000, reflecting strong demand and growth projections.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,148 shares of the biotechnology company's stock after buying an additional 33,120 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Axon Enterprise worth $53,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in shares of Axon Enterprise in the fourth quarter valued at $30,000. TCTC Holdings LLC boosted its position in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 24 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its stake in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Axon Enterprise in the first quarter worth approximately $32,000. Finally, Alpine Bank Wealth Management acquired a new position in Axon Enterprise during the first quarter valued at approximately $40,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Northland Securities set a $800.00 price target on Axon Enterprise in a report on Tuesday, August 5th. Raymond James Financial reaffirmed an "outperform" rating and issued a $855.00 price target (up from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Needham & Company LLC set a $870.00 price objective on Axon Enterprise and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wolfe Research started coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Stock Performance

Shares of AXON traded down $23.81 during mid-day trading on Monday, hitting $818.69. The stock had a trading volume of 615,551 shares, compared to its average volume of 709,229. The firm has a market cap of $64.27 billion, a P/E ratio of 202.15, a PEG ratio of 30.92 and a beta of 1.36. The business has a fifty day moving average price of $775.48 and a 200-day moving average price of $666.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise, Inc has a 52 week low of $346.71 and a 52 week high of $885.91.

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

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 905 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the completion of the sale, the president owned 268,735 shares in the company, valued at approximately $208,643,166.65. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer H. Mak sold 75 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 15,240 shares in the company, valued at approximately $11,762,384.40. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,985 shares of company stock worth $18,480,838. Insiders own 5.70% of the company's stock.

Axon Enterprise Company Profile

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.