EFG Asset Management Americas Corp. Buys New Position in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• EFG Asset Management Americas Corp. acquired 2,624 shares of Axon Enterprise, valued at approximately $1,380,000, in the first quarter, according to a recent 13F filing.
• Axon Enterprise reported $603.63 million in revenue for the latest quarter, exceeding estimates and showing a 31.3% year-over-year increase.
• Several analysts have raised their price targets on Axon Enterprise, with Bank of America setting a new target of $895.00 and maintaining a "buy" rating.

EFG Asset Management Americas Corp. bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,624 shares of the biotechnology company's stock, valued at approximately $1,380,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors boosted its position in Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after acquiring an additional 841,772 shares during the period. GAMMA Investing LLC lifted its holdings in Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the period. Jennison Associates LLC grew its position in Axon Enterprise by 23,203.7% in the 1st quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock valued at $322,961,000 after buying an additional 611,418 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Axon Enterprise by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 551,197 shares of the biotechnology company's stock valued at $327,587,000 after buying an additional 249,513 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Axon Enterprise by 230.2% during the 4th quarter. Two Sigma Advisers LP now owns 220,600 shares of the biotechnology company's stock worth $131,107,000 after buying an additional 153,800 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on AXON shares. The Goldman Sachs Group upped their target price on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wolfe Research started coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating on the stock. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Needham & Company LLC upped their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $772.08.

Axon Enterprise Stock Down 1.7%

Shares of NASDAQ:AXON traded down $13.02 during mid-day trading on Friday, reaching $742.47. 457,560 shares of the stock were exchanged, compared to its average volume of 593,070. The stock's 50 day simple moving average is $764.54 and its 200-day simple moving average is $656.73. Axon Enterprise, Inc has a one year low of $279.02 and a one year high of $830.21. The company has a market cap of $57.80 billion, a P/E ratio of 179.34, a P/E/G ratio of 82.76 and a beta of 1.36. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The business had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. Axon Enterprise's quarterly revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insiders Place Their Bets

In related news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $3,567,858.36. This represents a 21.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brittany Bagley sold 3,400 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the sale, the chief financial officer owned 131,833 shares in the company, valued at approximately $92,283,100. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,642 shares of company stock valued at $25,090,528 over the last 90 days. 4.40% of the stock is owned by company insiders.

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.