Axon Enterprise, Inc $AXON Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 7.3% during the 1st quarter, HoldingsChannel reports. The firm owned 41,464 shares of the biotechnology company’s stock after selling 3,282 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Axon Enterprise were worth $17,609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares during the period. Edgewood Management LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at about $846,516,000. Wellington Management Group LLP grew its stake in shares of Axon Enterprise by 326.9% in 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 in the last quarter. Norges Bank purchased a new stake in shares of Axon Enterprise during the 4th quarter valued at about $515,764,000. Finally, Styrax Capital LP purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at about $84,938,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXON. UBS Group reduced their price target on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. 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 report on Thursday, May 7th. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Citizens Jmp reissued a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, Morgan Stanley set a $600.00 target price on shares of 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 given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $725.25.

Axon Enterprise Stock Up 0.5%

Shares of NASDAQ AXON opened at $527.76 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. Axon Enterprise, Inc has a 1 year low of $339.01 and a 1 year high of $885.91. The stock’s 50-day simple moving average is $497.09 and its 200-day simple moving average is $476.61. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 211.95, a PEG ratio of 10.77 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) 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 firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same quarter in the prior year, the business posted $1.47 earnings per share. Axon Enterprise’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the completion of the sale, the director owned 3,632 shares of the company’s stock, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,989 shares of company stock worth $30,527,983 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Company 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.