Nuveen LLC Makes New Investment in Axon Enterprise, Inc (NASDAQ:AXON)

Key Points

• Nuveen LLC acquired a new stake in Axon Enterprise, Inc., purchasing 503,463 shares valued at approximately $264.8 million, reinforcing institutional ownership which stands at 79.08% of the stock.
• Recent analyst coverage includes enhanced price targets, with Goldman Sachs increasing its target from $730 to $830, while the average consensus target price currently sits at $837.69.
• Axon Enterprise reported strong quarterly earnings, achieving $2.12 EPS against an estimate of $1.54, alongside a 32.6% increase in revenue year-over-year, totaling $668.54 million.

Nuveen LLC purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 503,463 shares of the biotechnology company's stock, valued at approximately $264,796,000. Nuveen LLC owned approximately 0.65% of Axon Enterprise as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock valued at $4,540,005,000 after purchasing an additional 185,571 shares during the last quarter. Capital World Investors raised its stake in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock worth $1,079,145,000 after buying an additional 841,772 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock valued at $487,977,000 after buying an additional 212,931 shares in the last quarter. GAMMA Investing LLC grew its holdings in Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 shares during the period. Finally, Northern Trust Corp raised its position in Axon Enterprise by 19.8% in the fourth quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after acquiring an additional 118,469 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Down 2.0%

Shares of NASDAQ:AXON traded down $15.69 during trading on Thursday, reaching $749.83. 516,247 shares of the company traded hands, compared to its average volume of 712,528. The firm has a market cap of $58.86 billion, a P/E ratio of 185.14, a price-to-earnings-growth ratio of 28.21 and a beta of 1.36. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. Axon Enterprise, Inc has a 1-year low of $346.71 and a 1-year high of $885.91. The firm has a fifty day simple moving average of $775.38 and a 200 day simple moving average of $668.28.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the previous year, the business earned $1.20 EPS. The business's revenue was up 32.6% on a year-over-year basis. Analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the subject of several research reports. Bank of America raised their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Barclays upped their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group lifted their price target on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus price target of $837.69.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of Axon Enterprise stock in a transaction on Monday, May 19th. The stock was sold at an average price of $738.84, for a total transaction of $960,492.00. Following the sale, the director directly owned 4,829 shares of the company's stock, valued at $3,567,858.36. This represents a 21.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,185 shares of company stock valued at $24,126,378. Corporate insiders own 4.40% of the company's stock.

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.