National Pension Service Acquires 18,398 Shares of Axon Enterprise, Inc $AXON

Key Points

• National Pension Service increased its Axon Enterprise stake by 18.4% in the second quarter, adding 18,398 shares and bringing its holdings to 118,234 shares valued at approximately $66.3 million.
• Axon reported quarterly earnings of $1.88 per share versus the $1.84 consensus estimate, while revenue rose 35.3% year over year to $904.4 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $721.57.
• Company insiders sold 66,380 shares worth roughly $37.7 million over the past 90 days, including sales by the CEO and president under pre-arranged Rule 10b5-1 plans.

National Pension Service raised its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 18.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 118,234 shares of the biotechnology company's stock after purchasing an additional 18,398 shares during the period. National Pension Service owned approximately 0.15% of Axon Enterprise worth $66,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Axon Enterprise by 55,955.7% in the second quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company's stock worth $36,317,352,000 after purchasing an additional 64,666,282 shares during the last quarter. BlackRock Inc. boosted its position in shares of Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock valued at $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Axon Enterprise by 1.6% during the fourth 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 last quarter. Sands Capital Management LLC grew its holdings in Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after buying an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $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.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the completion of the transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the sale, the chief executive officer owned 3,118,012 shares of the company's stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their position. 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 have sold 66,380 shares of company stock worth $37,672,266 in the last ninety days. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AXON shares. UBS Group increased their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Piper Sandler upped their target price 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. Morgan Stanley upped their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. TD Cowen reiterated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Finally, Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average price target of $721.57.

Axon Enterprise Stock Performance

Shares of AXON opened at $479.34 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $38.94 billion, a price-to-earnings ratio of 198.90, a PEG ratio of 9.01 and a beta of 1.40. The stock has a 50 day moving average of $561.67 and a 200 day moving average of $488.36. Axon Enterprise, Inc has a 12 month low of $339.01 and a 12 month high of $792.16.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business's revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 earnings per share. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 2.12 earnings per share for the current year.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and equipment for law enforcement, public safety and other government agencies. Its product portfolio includes TASER energy weapons, body-worn cameras, in-car cameras and related connected devices designed to support safer interactions, improve transparency and collect operational data.

The company also provides cloud-based software for managing digital evidence, conducting investigations, overseeing records and workflows, coordinating dispatch and supporting real-time public safety operations.

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