Rathbones Group PLC Buys 13,078 Shares of Axon Enterprise, Inc $AXON

Key Points

• Rathbones Group PLC increased its stake in Axon Enterprise by 40.0% in Q4, buying 13,078 shares to own 45,808 shares valued at about $26.02 million (0.06% of the company).
• Institutional ownership is high at roughly 79.08%, with major investors like Vanguard, Jennison, Winslow and Artisan significantly boosting their positions in recent quarters.
• Axon posted an earnings beat (EPS $2.15 vs. $1.60 expected) and revenue of $796.7M (up 38.5% year-over-year), while analysts hold a consensus "Moderate Buy" with a mean target near $762.93.

Rathbones Group PLC grew its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,808 shares of the biotechnology company's stock after acquiring an additional 13,078 shares during the quarter. Rathbones Group PLC owned 0.06% of Axon Enterprise worth $26,016,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Axon Enterprise by 4.2% during the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock valued at $6,684,217,000 after purchasing an additional 376,904 shares during the period. Jennison Associates LLC raised its holdings in Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock worth $677,412,000 after purchasing an additional 330,213 shares during the period. Winslow Capital Management LLC boosted its position in shares of Axon Enterprise by 43.2% during the second quarter. Winslow Capital Management LLC now owns 375,580 shares of the biotechnology company's stock worth $310,958,000 after purchasing an additional 113,326 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Axon Enterprise by 2,541.0% during the third quarter. Artisan Partners Limited Partnership now owns 96,053 shares of the biotechnology company's stock worth $68,931,000 after purchasing an additional 99,988 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Axon Enterprise by 99.9% in the 2nd quarter. Sei Investments Co. now owns 165,075 shares of the biotechnology company's stock valued at $136,674,000 after buying an additional 82,484 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Craig Hallum restated a "buy" rating and issued a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a report on Friday, March 27th. Piper Sandler decreased their target price on Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. UBS Group dropped their price target on Axon Enterprise from $610.00 to $570.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Finally, William Blair reiterated an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $762.93.

Insider Buying and Selling at Axon Enterprise

In related news, Director Jeri Williams sold 157 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the sale, the director owned 1,159 shares in the company, valued at approximately $567,910. This represents a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $535.01, for a total value of $1,070,020.00. Following the completion of the transaction, the insider owned 55,588 shares of the company's stock, valued at approximately $29,740,135.88. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,855 shares of company stock valued at $13,299,928 in the last ninety days. Insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

NASDAQ AXON opened at $412.81 on Monday. The firm's 50 day moving average is $482.08 and its 200-day moving average is $577.93. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $33.19 billion, a PE ratio of 271.59, a price-to-earnings-growth ratio of 8.81 and a beta of 1.61. Axon Enterprise, Inc has a 12-month low of $396.41 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. During the same quarter last year, the firm earned $2.08 earnings per share. The firm's revenue for the quarter was up 38.5% compared to the same quarter last year. Equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Axon Enterprise Company 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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