Axon Enterprise, Inc (NASDAQ:AXON) Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Axon Enterprise, Inc. by 15.3%, holding approximately $58.27 million worth of the stock after acquiring 14,619 additional shares.
• Analysts are optimistic about Axon's future, with multiple firms raising price targets; Bank of America set a target of $1,000.00, reflecting a strong buy sentiment and an average rating of "Moderate Buy."
• Insider trading activities include the sale of shares by key executives, indicating a substantial total of approximately $16.1 million in stock sold over the past 90 days, which might raise interest among investors.

Resona Asset Management Co. Ltd. increased its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,274 shares of the biotechnology company's stock after purchasing an additional 14,619 shares during the quarter. Resona Asset Management Co. Ltd. owned 0.14% of Axon Enterprise worth $58,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AXON. Vanguard Group Inc. raised its position 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 worth $4,540,005,000 after acquiring an additional 185,571 shares during the period. Capital World Investors grew its stake in Axon Enterprise by 86.4% during the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after acquiring an additional 841,772 shares in the last quarter. Westfield Capital Management Co. LP grew 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 acquiring an additional 212,931 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after buying an additional 763,431 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Axon Enterprise by 19.8% in the 4th quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock worth $426,083,000 after buying an additional 118,469 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $855.00 price target (up from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective for the company in a research note on Tuesday, August 5th. Barclays boosted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $837.69.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the sale, the president directly owned 238,379 shares in the company, valued at $177,892,712.54. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hadi Partovi acquired 1,358 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the purchase, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This represents a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 54,995 shares of company stock valued at $41,925,130. 4.40% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

AXON traded up $4.41 during trading hours on Friday, hitting $754.24. 583,176 shares of the stock were exchanged, compared to its average volume of 783,867. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. The stock has a market cap of $59.21 billion, a price-to-earnings ratio of 186.23, a price-to-earnings-growth ratio of 27.52 and a beta of 1.36. Axon Enterprise, Inc has a 12 month low of $346.71 and a 12 month high of $885.91. The stock has a 50-day simple moving average of $773.85 and a 200-day simple moving average of $670.09.

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

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.