EFG International AG bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 39,424 shares of the biotechnology company's stock, valued at approximately $22,097,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Axon Enterprise by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after purchasing an additional 53,060 shares during the last quarter. BlackRock Inc. lifted its position in shares of Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock worth $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after buying an additional 35,544 shares in the last quarter. Sands Capital Management LLC boosted its holdings in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after buying an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after buying an additional 1,179,038 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.
Axon Enterprise Trading Up 2.6%
NASDAQ AXON opened at $613.26 on Wednesday. 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 capitalization of $49.82 billion, a P/E ratio of 254.47, a P/E/G ratio of 9.70 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. The firm has a 50-day moving average price of $549.76 and a 200 day moving average price of $479.31.
Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the company earned $2.12 EPS. The firm's revenue for the quarter was up 35.3% compared to the same quarter last year. Equities research analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current year.
Insiders Place Their Bets
In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider owned 34,024 shares of the company's stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick W. Smith sold 9,930 shares of the 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 completion of the transaction, the chief executive officer 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 76,594 shares of company stock worth $41,236,386. Corporate insiders own 4.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Barclays raised their price objective on Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. 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. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a 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. According to MarketBeat.com, Axon Enterprise currently has an average rating of "Moderate Buy" and an average price target of $730.92.
Get Our Latest Analysis on Axon Enterprise
About Axon Enterprise
(
Free Report)
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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