Daiichi Life Insurance Co. Ltd. Takes $2.10 Million Position in Axon Enterprise, Inc $AXON

Key Points

• Daiichi Life Insurance acquired 3,740 Axon Enterprise shares worth approximately $2.10 million during the second quarter. Institutional investors collectively own 79.08% of Axon’s outstanding stock.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and adjusted earnings of $1.88 per share, exceeding analyst expectations of $1.84.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $730.92, while insiders have sold about $35.2 million of stock over the past 90 days.

Daiichi Life Insurance Co. Ltd. bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,740 shares of the biotechnology company's stock, valued at approximately $2,097,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV purchased a new position in Axon Enterprise in the fourth quarter valued at approximately $28,000. Camelot Portfolios LLC purchased a new stake in shares of Axon Enterprise during the 4th quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at $31,000. AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at $34,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Axon Enterprise in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company's stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 66,989 shares of company stock valued at $35,216,932. Insiders own 4.20% of the company's stock.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $627.75 on Monday. The stock has a market cap of $51.00 billion, a P/E ratio of 260.48, a P/E/G ratio of 10.19 and a beta of 1.39. The firm has a fifty day moving average price of $543.11 and a 200 day moving average price of $476.99. 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, Inc has a 1-year low of $339.01 and a 1-year high of $794.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period in the previous year, the business posted $2.12 earnings per share. Axon Enterprise's quarterly revenue was up 35.3% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AXON. Morgan Stanley lifted their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Piper Sandler boosted their target price on Axon Enterprise from $724.00 to $732.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, UBS Group upped their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average target price of $730.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source