Mirae Asset Global Investments Co. Ltd. Makes New Investment in Axon Enterprise, Inc $AXON

Mirae Asset Global Investments Co. Ltd. purchased a new position in Axon Enterprise, Inc (NASDAQ:AXON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 60,981 shares of the biotechnology company’s stock, valued at approximately $25,766,000.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted 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 valued at $119,724,905,000 after purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in 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 stake 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 purchasing an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Axon Enterprise by 391,214.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after purchasing an additional 6,987,098 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in 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 worth $1,802,719,000 after purchasing an additional 4,183,302 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Down 0.5%

Shares of AXON stock opened at $425.43 on Tuesday. The stock’s fifty day moving average price is $459.39 and its 200 day moving average price is $480.13. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $738.23. The company has a market cap of $34.56 billion, a price-to-earnings ratio of 176.53, a price-to-earnings-growth ratio of 8.04 and a beta of 1.44. 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 (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS 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 analysts’ expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The firm’s revenue was up 35.3% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. On average, research analysts expect that Axon Enterprise, Inc will post 2.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were 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 directly owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the transaction, the insider directly owned 56,264 shares of the company’s stock, valued at $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,397 shares of company stock worth $26,722,984 over the last ninety days. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of several analyst reports. The Goldman Sachs Group decreased their price target on shares of Axon Enterprise from $715.00 to $675.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Barclays raised their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Tuesday, October 27th. Piper Sandler reduced their price objective on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. One research 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 stock. According to data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus target price of $688.38.

About Axon Enterprise

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.