Rockefeller Capital Management L.P. Has $6.54 Million Stake in Axon Enterprise, Inc $AXON

Key Points

• Rockefeller Capital Management increased its Axon Enterprise stake by 53.2% in the fourth quarter, bringing its holdings to 11,518 shares valued at about $6.54 million.
• Several other major institutional investors also raised their positions, and 79.08% of Axon’s stock is now held by institutions and hedge funds.
• Axon reported better-than-expected quarterly results with $1.61 EPS and $807.35 million in revenue, while analysts maintain a Moderate Buy rating with an average price target of $712.75.

Rockefeller Capital Management L.P. grew its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 53.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,518 shares of the biotechnology company's stock after purchasing an additional 4,002 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Axon Enterprise were worth $6,542,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Axon Enterprise by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after buying an additional 53,060 shares during the period. Geode Capital Management LLC raised its position in shares of Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock worth $1,265,657,000 after acquiring an additional 35,544 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Sands Capital Management LLC raised its position in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock worth $914,047,000 after acquiring an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 52,813 shares of the company's stock, valued at approximately $21,125,200. This trade represents a 3.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, the chief executive officer owned 3,060,997 shares of the company's stock, valued at $1,530,498,500. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 38,989 shares of company stock worth $19,090,083. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on AXON shares. UBS Group decreased their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Citizens Jmp reissued a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday. Zacks Research upgraded Axon Enterprise from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. TD Cowen reduced their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $712.75.

Axon Enterprise Trading Up 4.6%

Shares of AXON stock opened at $465.12 on Friday. The company has a market capitalization of $37.49 billion, a price-to-earnings ratio of 186.79, a PEG ratio of 8.09 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a 50-day simple moving average of $420.65 and a two-hundred day simple moving average of $482.08. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise's revenue was up 33.7% on a year-over-year basis. During the same period last year, the business posted $1.47 earnings per share. Research analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

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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