Swiss National Bank Buys 15,600 Shares of Axon Enterprise, Inc $AXON

Key Points

• Swiss National Bank increased its Axon Enterprise stake by 7.6% in the first quarter, buying 15,600 more shares and bringing its total holding to 220,020 shares valued at about $93.4 million.
• Insiders have been selling shares, including President Joshua Isner and CRO Cameron Brooks, with about 58,989 shares sold over the last 90 days worth roughly $30.5 million.
• Analysts remain generally positive on AXON: the stock has a consensus rating of “Moderate Buy,” with 15 Buy ratings and an average price target of $725.25, even as some firms trimmed targets.

Swiss National Bank boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 7.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,020 shares of the biotechnology company's stock after acquiring an additional 15,600 shares during the quarter. Swiss National Bank owned 0.27% of Axon Enterprise worth $93,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV purchased a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC grew its holdings in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $30,000. AlphaCentric Advisors LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $34,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $35,000. 79.08% of the stock is currently owned by institutional investors.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the sale, the president owned 169,125 shares of the company's stock, valued at $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Cameron Brooks sold 1,242 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. The trade was a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 58,989 shares of company stock worth $30,527,983. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on AXON shares. UBS Group dropped their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. TD Cowen decreased their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Needham & Company LLC upped their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Citizens Jmp reiterated a "market outperform" rating and set a $700.00 target price on shares of Axon Enterprise in a report on Thursday, June 25th. Finally, The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus price target of $725.25.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $527.48 on Tuesday. The stock's 50 day simple moving average is $474.33 and its two-hundred day simple moving average is $480.87. 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 stock has a market cap of $42.51 billion, a price-to-earnings ratio of 211.84, a PEG ratio of 10.41 and a beta of 1.38. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analyst estimates 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 was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.47 EPS. As a group, analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

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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