Rhumbline Advisers Purchases 5,428 Shares of Axon Enterprise, Inc. (NASDAQ:AXON)

Rhumbline Advisers grew its position in Axon Enterprise, Inc. (NASDAQ:AXON) by 3.7% during the first quarter, HoldingsChannel reports. The firm owned 151,787 shares of the biotechnology company’s stock after buying an additional 5,428 shares during the period. Rhumbline Advisers’ holdings in Axon Enterprise were worth $79,832,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock valued at $5,019,886,000 after purchasing an additional 275,959 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock valued at $1,095,542,000 after purchasing an additional 65,097 shares during the last quarter. Capital World Investors boosted its stake in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after purchasing an additional 841,772 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock valued at $659,128,000 after purchasing an additional 812,337 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Axon Enterprise in the 4th quarter valued at $482,081,000. 79.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of analyst reports. Craig Hallum lowered shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. The Goldman Sachs Group boosted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Needham & Company LLC boosted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Finally, Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $652.73.

Axon Enterprise Stock Performance

AXON opened at $758.57 on Tuesday. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $624.56 and its two-hundred day moving average price is $611.72. Axon Enterprise, Inc. has a 1-year low of $273.52 and a 1-year high of $765.00. The company has a market cap of $59.06 billion, a price-to-earnings ratio of 196.01, a PEG ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The firm had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. The business’s revenue was up 31.3% on a year-over-year basis. On average, analysts expect that Axon Enterprise, Inc. will post 5.8 EPS for the current fiscal year.

Insider Activity

In other news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeri Williams sold 307 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $899,275.44. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,969 shares of company stock worth $25,349,594 over the last quarter. Insiders own 4.40% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.