Mackenzie Financial Corp Has $4.15 Million Stake in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Mackenzie Financial Corp increased its stake in Axon Enterprise by 10.0%, purchasing an additional 718 shares during the first quarter, bringing its total holdings to 7,899 shares valued at approximately $4.15 million.
• A number of analysts have recently issued positive ratings on Axon Enterprise, with Bank of America raising their target price from $750 to $895 and giving a "buy" rating.
• Insiders at Axon Enterprise sold a total of 34,642 shares worth approximately $25.1 million in the last quarter, indicating changes in ownership dynamics among executives.

Mackenzie Financial Corp grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,899 shares of the biotechnology company's stock after purchasing an additional 718 shares during the quarter. Mackenzie Financial Corp's holdings in Axon Enterprise were worth $4,154,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Sheaff Brock Investment Advisors LLC grew its position in shares of Axon Enterprise by 0.5% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,561 shares of the biotechnology company's stock valued at $1,873,000 after buying an additional 19 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Axon Enterprise by 6.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,928 shares of the biotechnology company's stock worth $31,519,000 after purchasing an additional 3,676 shares during the last quarter. Bedel Financial Consulting Inc. grew its position in Axon Enterprise by 16.7% in the 1st quarter. Bedel Financial Consulting Inc. now owns 350 shares of the biotechnology company's stock worth $184,000 after purchasing an additional 50 shares during the last quarter. Empirical Finance LLC grew its position in Axon Enterprise by 5.5% in the 1st quarter. Empirical Finance LLC now owns 1,129 shares of the biotechnology company's stock worth $594,000 after purchasing an additional 59 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Axon Enterprise by 2.2% in the 1st quarter. TD Asset Management Inc now owns 34,078 shares of the biotechnology company's stock worth $17,923,000 after purchasing an additional 726 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AXON. Barclays upped their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wolfe Research initiated coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Bank of America upped their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, UBS Group initiated coverage on shares of Axon Enterprise in a research note on Wednesday, July 16th. They issued a "neutral" rating and a $820.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of "Moderate Buy" and a consensus price target of $772.08.

Axon Enterprise Trading Up 0.3%

Shares of NASDAQ:AXON traded up $2.41 during mid-day trading on Monday, hitting $744.88. The stock had a trading volume of 765,990 shares, compared to its average volume of 615,954. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. The company has a market cap of $57.99 billion, a PE ratio of 179.92, a P/E/G ratio of 82.76 and a beta of 1.36. Axon Enterprise, Inc has a 12-month low of $279.02 and a 12-month high of $830.21. The company's 50 day moving average is $764.54 and its 200-day moving average is $657.23.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company's revenue for the quarter 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, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction 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 directly owned 131,833 shares in the company, valued at approximately $92,283,100. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total transaction of $960,492.00. Following the completion of the transaction, the director owned 4,829 shares in the company, valued at $3,567,858.36. The trade was a 21.21% 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 worth $25,090,528 in the last ninety days. Company insiders own 5.70% of the company's stock.

About Axon Enterprise

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.