Panagora Asset Management Inc. Raises Holdings in Axon Enterprise, Inc $AXON

Panagora Asset Management Inc. raised its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 333.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,278 shares of the biotechnology company’s stock after purchasing an additional 1,753 shares during the period. Panagora Asset Management Inc.’s holdings in Axon Enterprise were worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Wealthedge Investment Advisors LLC increased its stake in shares of Axon Enterprise by 180.7% during the second quarter. Wealthedge Investment Advisors LLC now owns 1,204 shares of the biotechnology company’s stock worth $997,000 after buying an additional 775 shares during the period. VestGen Advisors LLC grew its holdings in Axon Enterprise by 144.6% during the 2nd quarter. VestGen Advisors LLC now owns 6,912 shares of the biotechnology company’s stock worth $5,723,000 after acquiring an additional 4,086 shares in the last quarter. Trustmark Bank Trust Department purchased a new stake in shares of Axon Enterprise in the 2nd quarter valued at approximately $635,000. Dilation Capital Management LP acquired a new stake in shares of Axon Enterprise in the 2nd quarter valued at $3,814,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Axon Enterprise by 4.4% in the 2nd quarter. New York State Common Retirement Fund now owns 37,839 shares of the biotechnology company’s stock valued at $31,328,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AXON shares. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Piper Sandler lowered their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday. Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $814.00.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CFO Brittany Bagley sold 2,500 shares of Axon Enterprise stock in a transaction on Monday, November 10th. The shares were sold at an average price of $610.00, for a total value of $1,525,000.00. Following the transaction, the chief financial officer directly owned 91,092 shares in the company, valued at approximately $55,566,120. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey C. Kunins sold 1,797 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $539.23, for a total transaction of $968,996.31. Following the completion of the sale, the insider directly owned 83,485 shares of the company’s stock, valued at $45,017,616.55. The trade was a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,459 shares of company stock worth $28,485,977 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Axon Enterprise Stock Up 1.3%

Shares of NASDAQ AXON opened at $550.61 on Friday. The business has a 50-day moving average price of $642.45 and a 200 day moving average price of $721.62. The stock has a market cap of $43.45 billion, a PE ratio of 174.24, a price-to-earnings-growth ratio of 124.84 and a beta of 1.40. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. Axon Enterprise, Inc has a 52-week low of $469.24 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The firm had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. Axon Enterprise’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 EPS. Equities research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.