10,000 Axon Enterprise, Inc $AXON Shares Acquired by Canal Insurance CO

Canal Insurance CO boosted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 100.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,000 shares of the biotechnology company’s stock after buying an additional 10,000 shares during the period. Axon Enterprise makes up 2.0% of Canal Insurance CO’s portfolio, making the stock its 15th largest holding. Canal Insurance CO’s holdings in Axon Enterprise were worth $8,450,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after acquiring an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares during the last quarter. BlackRock Inc. grew its position in shares of 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 purchasing an additional 345,365 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Axon Enterprise by 5,022.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock valued at $1,802,719,000 after purchasing an additional 4,183,302 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares during the period. 79.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed 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 the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 47,397 shares of company stock valued at $26,722,984 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded up $12.43 on Tuesday, reaching $395.52. 652,956 shares of the company’s stock were exchanged, compared to its average volume of 1,050,465. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $764.02. The company has a fifty day moving average of $497.33 and a 200-day moving average of $474.55. The company has a market capitalization of $32.13 billion, a price-to-earnings ratio of 164.23, a PEG ratio of 7.34 and a beta of 1.44. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 earnings per share. On average, research analysts predict that Axon Enterprise, Inc will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group lifted their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Tuesday, October 13th. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $707.07.

Axon Enterprise 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.