Transamerica Financial Advisors LLC Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• Transamerica Financial Advisors acquired 5,807 Axon shares worth approximately $3.26 million during the second quarter. Institutional investors collectively own 79.08% of the company.
• Axon reported quarterly earnings of $1.88 per share, beating estimates of $1.84, while revenue rose 35.3% year over year to $904.39 million.
• Analysts maintain a favorable outlook, with a “Moderate Buy” consensus and an average price target of $730.92, compared with shares opening at $607.48. However, insiders have sold 76,594 shares worth about $41.2 million over the past 90 days.

Transamerica Financial Advisors LLC acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,807 shares of the biotechnology company's stock, valued at approximately $3,256,000.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its stake in Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company's stock valued at $4,672,432,000 after buying an additional 345,365 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 1.6% during 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 buying an additional 35,544 shares during the last quarter. Sands Capital Management LLC grew its holdings 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 valued at $914,047,000 after acquiring an additional 167,095 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 acquiring an additional 1,179,038 shares in the last quarter. Finally, Edgewood Management LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at about $846,516,000. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Down 0.9%

Shares of AXON stock opened at $607.48 on Thursday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $794.29. The stock has a market cap of $49.35 billion, a price-to-earnings ratio of 252.07, a PEG ratio of 9.95 and a beta of 1.39. The firm's 50-day moving average is $553.45 and its 200-day moving average is $480.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analysts' expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.Axon Enterprise's quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. Sell-side analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Analysts Set New Price Targets

AXON has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "buy" rating and set a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. Morgan Stanley raised their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. TD Cowen reaffirmed a "buy" rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Needham & Company LLC reissued a "buy" rating on shares of Axon Enterprise in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $730.92.

Insider Buying and Selling

In related news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive directly owned 49,710 shares of the company's stock, valued at $24,855,000. This represents a 2.44% decrease in their position. 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 90 days, insiders sold 76,594 shares of company stock valued at $41,236,386. Insiders own 4.20% of the company's stock.

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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