E Fund Management Co. Ltd. Acquires Shares of 17,249 Axon Enterprise, Inc $AXON

Key Points

• E Fund Management acquired 17,249 Axon Enterprise shares worth approximately $9.67 million in the second quarter, while institutional investors collectively own 79.08% of the stock.
• Axon reported quarterly EPS of $1.88, topping estimates by $0.04, and revenue of $904.39 million, up 35.3% year over year and above analyst expectations.
• Wall Street maintains a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $730.92; however, insiders sold nearly $36.0 million of stock over the past 90 days.

E Fund Management Co. Ltd. bought a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,249 shares of the biotechnology company's stock, valued at approximately $9,670,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its stake in Axon Enterprise by 53.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company's stock valued at $6,542,000 after acquiring an additional 4,002 shares in the last quarter. Legal & General Group Plc lifted its position in Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company's stock worth $242,241,000 after acquiring an additional 5,419 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $13,116,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Axon Enterprise in the 1st quarter valued at $15,067,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Axon Enterprise by 40.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company's stock worth $6,406,000 after purchasing an additional 4,360 shares during the period. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

AXON stock opened at $645.72 on Thursday. The business has a fifty day moving average of $536.03 and a two-hundred day moving average of $474.89. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $52.46 billion, a price-to-earnings ratio of 267.93, a price-to-earnings-growth ratio of 10.06 and a beta of 1.39. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29.

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

Insiders Place Their Bets

In related news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares in the company, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 9,930 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the transaction, the chief executive officer directly owned 3,031,067 shares of the company's stock, valued at $1,663,358,637.59. The trade was a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 68,989 shares of company stock valued at $36,016,932. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Zacks Research cut Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Barclays increased their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a "buy" rating on shares of Axon Enterprise in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $730.92.

Axon Enterprise Company 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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