OMERS ADMINISTRATION Corp Buys Shares of 3,867 Axon Enterprise, Inc $AXON

Key Points

• OMERS Administration Corp. purchased 3,867 Axon Enterprise shares worth approximately $2.17 million during the second quarter, while institutional investors collectively own 79.08% of the company.
• Axon reported quarterly earnings of $1.88 per share, exceeding estimates by $0.04, and revenue of $904.39 million, up 35.3% year over year and above consensus expectations.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $730.92, although insiders have sold 76,594 shares worth about $41.24 million over the past three months.

OMERS ADMINISTRATION Corp purchased a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,867 shares of the biotechnology company's stock, valued at approximately $2,168,000.

Several other hedge funds have also recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in shares of Axon Enterprise by 53.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company's stock valued at $6,542,000 after purchasing an additional 4,002 shares during the last quarter. Legal & General Group Plc grew its stake in Axon Enterprise by 1.3% during the 4th quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company's stock worth $242,241,000 after buying an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Axon Enterprise during the 4th quarter valued at about $13,116,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Axon Enterprise during the 2nd quarter valued at about $3,854,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Axon Enterprise in the first quarter valued at about $15,067,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Activity

In other Axon Enterprise news, CEO Patrick W. Smith sold 9,930 shares of Axon Enterprise stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $548.77, for a total transaction of $5,449,286.10. Following the completion of the sale, the chief executive officer directly owned 3,031,067 shares in the company, valued at approximately $1,663,358,637.59. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 76,594 shares of company stock valued at $41,236,386. 4.20% of the stock is owned by insiders.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $607.48 on Thursday. The firm has a market capitalization of $49.35 billion, a price-to-earnings ratio of 252.07, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The business has a fifty day moving average of $553.45 and a 200 day moving average of $480.77. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company's quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 EPS. As a group, research analysts expect that Axon Enterprise, Inc will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday, August 5th. UBS Group upped their price objective on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. JPMorgan Chase & Co. lifted their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Barclays boosted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $730.92.

Axon Enterprise Profile

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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