Eventide Asset Management LLC Acquires 1,783 Shares of Axon Enterprise, Inc $AXON

Eventide Asset Management LLC raised its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,104 shares of the biotechnology company’s stock after purchasing an additional 1,783 shares during the quarter. Eventide Asset Management LLC’s holdings in Axon Enterprise were worth $49,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CSM Advisors LLC increased its stake in shares of Axon Enterprise by 851.8% in the 3rd quarter. CSM Advisors LLC now owns 2,608 shares of the biotechnology company’s stock valued at $1,868,000 after purchasing an additional 2,334 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its position in shares of Axon Enterprise by 2.5% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 40,115 shares of the biotechnology company’s stock worth $28,788,000 after buying an additional 996 shares during the last quarter. Clear Street Group Inc. acquired a new stake in Axon Enterprise in the third quarter valued at about $1,742,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Axon Enterprise by 43.0% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 2,530 shares of the biotechnology company’s stock valued at $1,812,000 after buying an additional 761 shares in the last quarter. Finally, Bridgefront Capital LLC grew its position in Axon Enterprise by 79.7% in the third quarter. Bridgefront Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $510,000 after acquiring an additional 315 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $496.18 on Friday. The stock’s 50-day moving average is $531.08 and its 200-day moving average is $609.33. Axon Enterprise, Inc has a 1-year low of $396.41 and a 1-year high of $885.91. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $39.89 billion, a P/E ratio of 326.44, a price-to-earnings-growth ratio of 10.59 and a beta of 1.46.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. The business had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.Axon Enterprise’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. Equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the transaction, the chief accounting officer directly owned 12,240 shares of the company’s stock, valued at $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total value of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares in the company, valued at $1,546,240,339.28. The trade was a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 24,634 shares of company stock worth $13,803,095. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AXON. Piper Sandler lowered their target price on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. UBS Group reduced their price target on shares of Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a report on Tuesday, January 6th. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Finally, Needham & Company LLC dropped their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $762.93.

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.