Nomura Asset Management Co. Ltd. Has $49.73 Million Stake in Axon Enterprise, Inc $AXON

Key Points

• Nomura Asset Management boosted its Axon Enterprise stake by 10.6% in the fourth quarter, bringing its holdings to 87,557 shares worth about $49.7 million.
• Axon has seen continued institutional interest, with 79.08% of the stock owned by institutions and hedge funds, while insiders also made recent sales, including director Erika Nardini and insider Isaiah Fields.
• Analysts remain broadly positive on the stock: the consensus rating is Moderate Buy with an average price target of $712.75, while Axon’s latest quarterly results beat earnings and revenue expectations.

Nomura Asset Management Co. Ltd. increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,557 shares of the biotechnology company's stock after buying an additional 8,425 shares during the period. Nomura Asset Management Co. Ltd. owned 0.11% of Axon Enterprise worth $49,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $28,000. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise in the third quarter valued at approximately $29,000. Sound Income Strategies LLC raised its position in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after buying an additional 44 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $35,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley set a $600.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. TD Cowen decreased their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen raised shares of Axon Enterprise from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Barclays decreased their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $535.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $712.75.

Insiders Place Their Bets

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total transaction of $100,302.84. Following the sale, the director owned 1,946 shares of the company's stock, valued at approximately $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the sale, the insider directly owned 52,813 shares in the company, valued at approximately $21,125,200. The trade was a 3.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,355 shares of company stock valued at $977,233. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $448.72 on Monday. The company's 50 day simple moving average is $407.53 and its 200 day simple moving average is $494.02. The stock has a market capitalization of $36.17 billion, a price-to-earnings ratio of 180.21, a price-to-earnings-growth ratio of 8.16 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company's revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 earnings per share. As a group, research analysts predict 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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