Hyperion Asset Management Ltd Acquires 24,535 Shares of Axon Enterprise, Inc $AXON

Key Points

• Hyperion Asset Management increased its Axon Enterprise stake by 20% in the fourth quarter, buying 24,535 shares and bringing its total holdings to 147,151 shares worth about $83.6 million.
• Several large institutional investors also boosted positions in AXON, while institutions as a group own 79.08% of the company’s stock.
• Wall Street remains broadly positive on Axon, with an average Moderate Buy rating and a consensus price target of $712.75, even as insiders recently sold shares and the stock opened at $423.01.

Hyperion Asset Management Ltd lifted its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,151 shares of the biotechnology company's stock after purchasing an additional 24,535 shares during the period. Axon Enterprise accounts for about 2.3% of Hyperion Asset Management Ltd's portfolio, making the stock its 15th biggest position. Hyperion Asset Management Ltd owned 0.19% of Axon Enterprise worth $83,571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after buying an additional 53,060 shares during the period. Geode Capital Management LLC grew its stake 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 during the period. Baillie Gifford & Co. boosted its holdings in Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Sands Capital Management LLC grew its stake in Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after acquiring an additional 167,095 shares during the period. Finally, Edgewood Management LLC acquired a new stake in Axon Enterprise in the fourth quarter valued at approximately $846,516,000. Institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

AXON has been the subject of a number of research reports. Piper Sandler reissued an "overweight" rating and issued a $674.00 price objective on shares of Axon Enterprise in a research note on Monday. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research note on Thursday, May 7th. UBS Group reduced their price objective on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $535.00 price objective on Axon Enterprise in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $712.75.

Insider Buying and Selling at Axon Enterprise

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 transaction of $6,349,850.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, 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. Insiders sold a total of 38,989 shares of company stock valued at $19,090,083 in the last ninety days. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Stock Down 2.8%

AXON stock opened at $423.01 on Thursday. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock's 50 day moving average is $411.60 and its 200-day moving average is $486.87. The firm has a market capitalization of $34.09 billion, a PE ratio of 169.88, a P/E/G ratio of 7.92 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. Sell-side analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

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.

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