Stephens Investment Management Group LLC Has $43.95 Million Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Stephens Investment Management Group increased its Axon Enterprise stake by 24.3% in the first quarter, bringing its holdings to 103,486 shares worth about $43.95 million.
• Wall Street sentiment remains positive, with Axon carrying a consensus “Moderate Buy” rating and an average price target of $712.75; several firms recently reiterated bullish ratings.
• Axon reported strong first-quarter results, posting EPS of $1.61 and revenue of $807.35 million, both ahead of estimates, while revenue rose 33.7% year over year.

Stephens Investment Management Group LLC lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 24.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,486 shares of the biotechnology company's stock after purchasing an additional 20,262 shares during the quarter. Stephens Investment Management Group LLC owned 0.13% of Axon Enterprise worth $43,949,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AXON. Brighton Jones LLC acquired a new position in Axon Enterprise during the 4th quarter valued at about $480,000. NewEdge Advisors LLC boosted its position in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company's stock valued at $1,207,000 after buying an additional 668 shares during the last quarter. Empowered Funds LLC grew its holdings in Axon Enterprise by 8.4% during the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP raised its position in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock valued at $3,646,000 after buying an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Axon Enterprise in the 2nd quarter valued at $284,000. 79.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citizens Jmp reaffirmed a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $674.00 price objective on shares of Axon Enterprise in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $597.04 on Friday. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The company has a market capitalization of $48.12 billion, a PE ratio of 239.78, a price-to-earnings-growth ratio of 12.18 and a beta of 1.38. The business has a fifty day moving average price of $437.68 and a two-hundred day moving average price of $482.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.47 EPS. Analysts forecast that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Activity

In other news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider owned 52,813 shares in the company, valued at approximately $21,125,200. This represents a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 20,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This trade represents a 0.65% 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 ninety days, insiders sold 48,989 shares of company stock worth $24,090,083. 4.20% of the stock is owned by insiders.

About Axon Enterprise

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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