OMERS ADMINISTRATION Corp Takes Position in Axon Enterprise, Inc $AXON

OMERS ADMINISTRATION Corp bought a new position in Axon Enterprise, Inc (NASDAQ:AXON) during the second quarter, Holdings Channel reports. The firm bought 3,867 shares of the biotechnology company’s stock, valued at approximately $2,168,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Axon Enterprise by 4.3% in the second 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 boosted its position in Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after purchasing an additional 35,544 shares in the last quarter. Sands Capital Management LLC grew its stake in shares of 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 purchasing an additional 167,095 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 purchasing an additional 1,179,038 shares during the period. Finally, Edgewood Management LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at approximately $846,516,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the chief executive officer owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction dated 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 transaction, 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. Over the last quarter, insiders sold 76,594 shares of company stock valued at $41,236,386. Insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Down 0.9%

Shares of AXON stock opened at $607.48 on Thursday. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $794.29. The company has a market cap of $49.35 billion, a price-to-earnings ratio of 252.07, a PEG ratio of 9.95 and a beta of 1.39. 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 stock has a 50 day simple moving average of $553.45 and a 200-day simple moving average of $480.77.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 35.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 EPS. On average, equities research analysts expect that Axon Enterprise, Inc will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXON shares. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Thursday, August 6th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Morgan Stanley upped their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Piper Sandler increased their target price 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $730.92.

About Axon Enterprise

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.