Deutsche Bank AG Purchases 10,295 Shares of Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Deutsche Bank AG has increased its stake in Axon Enterprise by 3.3%, owning 326,500 shares valued at approximately $171.7 million.
• Several hedge funds, including Charles Schwab Investment Management and Vanguard Group, have also raised their positions in Axon Enterprise, indicating strong institutional support for the company.
• Axon Enterprise recently reported earnings of $2.12 per share for the quarter, exceeding expectations, with a 32.6% year-over-year revenue increase to $668.54 million.

Deutsche Bank AG grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 326,500 shares of the biotechnology company's stock after purchasing an additional 10,295 shares during the period. Deutsche Bank AG owned approximately 0.42% of Axon Enterprise worth $171,723,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on AXON. Needham & Company LLC set a $870.00 target price on Axon Enterprise and gave the company a "buy" rating in a research note on Tuesday, August 5th. Raymond James Financial reissued an "outperform" rating and issued a $855.00 price objective (up from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Bank of America upped their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Buying and Selling

In related news, President Joshua Isner sold 905 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the transaction, the president owned 268,735 shares in the company, valued at $208,643,166.65. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the completion of the transaction, the director owned 4,829 shares in the company, valued at approximately $3,567,858.36. This represents a 21.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,585 shares of company stock valued at $16,100,838 in the last 90 days. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded down $50.12 during midday trading on Tuesday, reaching $768.57. The company's stock had a trading volume of 994,753 shares, compared to its average volume of 710,885. Axon Enterprise, Inc has a fifty-two week low of $346.71 and a fifty-two week high of $885.91. The company has a market capitalization of $60.33 billion, a P/E ratio of 189.77, a P/E/G ratio of 30.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The business's fifty day simple moving average is $775.48 and its 200-day simple moving average is $666.90.

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, beating 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 company had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same period last year, the company posted $1.20 earnings per share. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal 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.