OVERSEA CHINESE BANKING Corp Ltd Acquires New Shares in Axon Enterprise, Inc $AXON

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 912 shares of the biotechnology company’s stock, valued at approximately $654,000.

Several other large investors also recently bought and sold shares of AXON. Stone House Investment Management LLC purchased a new position in shares of Axon Enterprise in the third quarter valued at $29,000. Hemington Wealth Management grew its stake in Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 17 shares during the last quarter. Whipplewood Advisors LLC increased its holdings in Axon Enterprise by 192.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 27 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Axon Enterprise during the 2nd quarter valued at about $37,000. Finally, NewSquare Capital LLC raised its position in Axon Enterprise by 96.2% during the second quarter. NewSquare Capital LLC now owns 51 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $551.92, for a total value of $5,519,200.00. Following the transaction, the chief executive officer directly owned 3,110,997 shares in the company, valued at approximately $1,717,021,464.24. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey C. Kunins sold 1,797 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $539.23, for a total value of $968,996.31. Following the transaction, the insider owned 83,485 shares of the company’s stock, valued at $45,017,616.55. This represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 60,540 shares of company stock valued at $34,684,738. Insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AXON shares. Barclays dropped their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Piper Sandler decreased their price target on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Finally, Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 target price for the company in a report on Tuesday, January 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.71.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $637.19 on Friday. The firm has a market capitalization of $50.28 billion, a PE ratio of 201.64, a price-to-earnings-growth ratio of 19.81 and a beta of 1.41. Axon Enterprise, Inc has a one year low of $469.24 and a one year high of $885.91. The stock’s 50 day moving average price is $570.51 and its 200 day moving average price is $684.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same period in the previous year, the firm posted $1.45 earnings per share. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Axon Enterprise Company 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.