Vontobel Holding Ltd. Purchases 7,857 Shares of Axon Enterprise, Inc $AXON

Key Points

• Vontobel Holding increased its Axon Enterprise stake by 180.5% in the second quarter, purchasing 7,857 additional shares and bringing its holdings to 12,210 shares valued at approximately $6.85 million.
• Institutional investors own 79.08% of Axon’s stock, while insiders have sold 68,989 shares worth about $36.0 million over the past 90 days.
• Axon exceeded quarterly earnings and revenue expectations, reporting $1.88 in EPS and $904.4 million in revenue, up 35.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $730.92.

Vontobel Holding Ltd. boosted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 180.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,210 shares of the biotechnology company's stock after purchasing an additional 7,857 shares during the quarter. Vontobel Holding Ltd.'s holdings in Axon Enterprise were worth $6,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Edgewood Management LLC purchased a new stake in shares of Axon Enterprise in the 4th quarter worth $846,516,000. Wellington Management Group LLP increased its stake in shares of Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after buying an additional 1,179,038 shares during the period. Norges Bank purchased a new position in shares of Axon Enterprise during the fourth quarter valued at $515,764,000. Styrax Capital LP bought a new stake in shares of Axon Enterprise in the first quarter valued at about $84,938,000. Finally, Sands Capital Management LLC raised its holdings in shares of Axon Enterprise by 11.6% in the fourth 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. 79.08% of the stock is owned by institutional investors.

Insider Activity

In related news, President Joshua Isner sold 13,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the president owned 169,125 shares in the company, valued at $82,609,106.25. The trade was a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the sale, the insider directly owned 34,024 shares of the company's stock, valued at $16,501,640. The trade was a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 68,989 shares of company stock worth $36,016,932 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

AXON opened at $612.83 on Friday. The business's 50-day moving average is $526.06 and its two-hundred day moving average is $474.40. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $794.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The firm has a market capitalization of $49.78 billion, a PE ratio of 254.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its 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 the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm's revenue was up 35.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. Research analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXON has been the topic of several recent research reports. 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. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. UBS Group upped their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Barclays increased their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Piper Sandler boosted their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $730.92.

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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