NEOS Investment Management LLC Acquires 6,698 Shares of Axon Enterprise, Inc $AXON

NEOS Investment Management LLC raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 12.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,995 shares of the biotechnology company’s stock after buying an additional 6,698 shares during the period. NEOS Investment Management LLC owned about 0.07% of Axon Enterprise worth $33,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares during the period. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock valued at $1,265,657,000 after purchasing an additional 35,544 shares during the period. Sands Capital Management LLC grew its holdings in shares of Axon Enterprise by 11.6% in the fourth 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 last quarter. Wellington Management Group LLP grew its holdings 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 worth $874,463,000 after purchasing an additional 1,179,038 shares during the last quarter. Finally, Edgewood Management LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $846,516,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $515.67 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $569.47 and its 200 day simple moving average is $486.24. The stock has a market cap of $41.89 billion, a P/E ratio of 213.97, a price-to-earnings-growth ratio of 8.74 and a beta of 1.40. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $792.16.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. As a group, research analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AXON. Citizens Jmp reissued a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday. Morgan Stanley raised their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.57.

Insider Buying and Selling

In other news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the transaction, the president owned 296,974 shares of the company’s stock, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,380 shares of company stock valued at $32,582,366 over the last three months. Corporate insiders own 4.20% of the company’s stock.

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.