Axon Enterprise, Inc $AXON Position Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 631.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,456 shares of the biotechnology company’s stock after buying an additional 12,481 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Axon Enterprise were worth $8,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXON. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $480,000. NewEdge Advisors LLC lifted its stake in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after buying an additional 668 shares during the period. Empowered Funds LLC lifted its position in shares of Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares during the period. Woodline Partners LP grew its stake in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new position in shares of Axon Enterprise in the second quarter valued at about $284,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the transaction, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the sale, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 38,989 shares of company stock worth $19,090,083. Company insiders own 4.20% of the company’s stock.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $435.39 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The firm has a market capitalization of $35.09 billion, a PE ratio of 174.86, a P/E/G ratio of 8.06 and a beta of 1.45. The company has a 50-day moving average price of $411.40 and a two-hundred day moving average price of $487.65.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business’s revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 earnings per share. Equities analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXON. Morgan Stanley set a $600.00 target price on Axon Enterprise in a report on Thursday, May 7th. Citizens Jmp dropped their price objective on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 7th. TD Cowen dropped their target price on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating and set a $674.00 target price on shares of Axon Enterprise in a report on Monday. Finally, Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $712.75.

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.