Capital Investment Services of America Inc. Buys 1,323 Shares of Axon Enterprise, Inc $AXON

Capital Investment Services of America Inc. grew its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 7.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,159 shares of the biotechnology company’s stock after buying an additional 1,323 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Axon Enterprise were worth $8,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXON. State Street Corp boosted its holdings in shares of Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Axon Enterprise by 18,050.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Axon Enterprise by 391,214.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after purchasing an additional 6,987,098 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Axon Enterprise by 8,432.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after purchasing an additional 3,496,493 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Cowen cut their price target on Axon Enterprise from $825.00 to $800.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Raymond James Financial set a $675.00 price objective on Axon Enterprise in a research note on Thursday, October 15th. Piper Sandler dropped their price objective on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. Argus lifted their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.38.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $424.18 on Thursday. The stock has a market capitalization of $34.46 billion, a PE ratio of 176.01, a PEG ratio of 7.92 and a beta of 1.48. The business’s 50 day simple moving average is $451.99 and its 200 day simple moving average is $478.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $665.07.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period in the prior year, the firm posted $2.12 EPS. The company’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, research analysts forecast that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. The trade was a 0.32% 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. In the last 90 days, insiders have sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.