LaSalle St. Investment Advisors LLC Makes New Investment in Axon Enterprise, Inc $AXON

LaSalle St. Investment Advisors LLC bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,074 shares of the biotechnology company’s stock, valued at approximately $602,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after buying an additional 53,060 shares during the period. BlackRock Inc. increased its position 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 acquiring an additional 345,365 shares during the period. Geode Capital Management LLC raised its stake in 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 valued at $1,265,657,000 after acquiring an additional 35,544 shares during the last quarter. Sands Capital Management LLC lifted its position in Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after acquiring an additional 167,095 shares during the period. Finally, Wellington Management Group LLP lifted its position in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Trading Down 4.9%

Shares of AXON opened at $614.26 on Friday. The firm has a market capitalization of $49.90 billion, a P/E ratio of 254.88, a PEG ratio of 10.48 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average is $539.39 and its two-hundred day moving average is $475.81. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $794.29.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.04. The firm 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 revenue was up 35.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. On average, research analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AXON shares. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Insiders Place Their Bets

In related news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction that occurred 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 transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. The trade was a 7.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 9,930 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $548.77, for a total value of $5,449,286.10. Following the transaction, the chief executive officer directly owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. The trade was a 0.33% 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 66,989 shares of company stock worth $35,216,932. 4.20% of the stock is owned by company insiders.

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.