Axon Enterprise, Inc (NASDAQ:AXON) Stake Boosted by KBC Group NV

KBC Group NV grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 155.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,184 shares of the biotechnology company's stock after acquiring an additional 14,115 shares during the quarter. KBC Group NV's holdings in Axon Enterprise were worth $12,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AXON. Capital World Investors increased its stake in shares of Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after acquiring an additional 841,772 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after acquiring an additional 812,337 shares during the last quarter. Norges Bank acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $482,081,000. GQG Partners LLC acquired a new position in shares of Axon Enterprise during the 4th quarter valued at about $478,349,000. Finally, GAMMA Investing LLC grew its holdings in shares of Axon Enterprise by 58,725.5% during the 1st 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. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AXON shares. The Goldman Sachs Group boosted their target price on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Barclays boosted their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Bank of America boosted their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC boosted their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $699.55.

Axon Enterprise Stock Up 2.7%

NASDAQ AXON traded up $20.93 on Friday, reaching $795.48. The company had a trading volume of 268,670 shares, compared to its average volume of 540,118. The firm has a market capitalization of $61.93 billion, a PE ratio of 192.14, a P/E/G ratio of 91.57 and a beta of 1.29. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21. The firm has a 50-day moving average of $736.97 and a 200-day moving average of $635.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62.

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

Insider Activity at Axon Enterprise

In other news, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the transaction, the executive directly owned 19,447 shares in the company, valued at approximately $14,405,559.72. This represents a 13.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brittany Bagley sold 3,400 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total value of $2,380,000.00. Following the transaction, the chief financial officer owned 131,833 shares of the company's stock, valued at approximately $92,283,100. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is currently owned by 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.