Rakuten Investment Management Inc. Invests $1.42 Million in Axon Enterprise, Inc $AXON

Rakuten Investment Management Inc. purchased a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,975 shares of the biotechnology company’s stock, valued at approximately $1,417,000.

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

Analysts Set New Price Targets

AXON has been the topic of several recent research reports. Barclays decreased their price target on Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a research report on Tuesday, January 6th. The Goldman Sachs Group dropped their price target on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Finally, Piper Sandler decreased their price objective on Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $805.71.

Axon Enterprise Stock Up 1.0%

Axon Enterprise stock opened at $613.14 on Friday. Axon Enterprise, Inc has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The company’s 50-day moving average is $576.17 and its 200-day moving average is $676.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89. The firm has a market capitalization of $48.38 billion, a PE ratio of 194.03, a P/E/G ratio of 19.12 and a beta of 1.41.

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 the consensus estimate of $1.63 by ($0.46). The company had revenue of $710.64 million during the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. Axon Enterprise’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 earnings per share. Sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Jennifer H. Mak sold 1,134 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the completion of the sale, the chief accounting officer directly owned 13,740 shares in the company, valued at $8,244,000. This represents a 7.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey C. Kunins sold 1,797 shares of Axon Enterprise stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $539.23, for a total value of $968,996.31. Following the completion of the transaction, the insider owned 83,485 shares in the company, valued at approximately $45,017,616.55. This represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,540 shares of company stock valued at $34,684,738 in the last ninety days. Insiders own 4.40% of the company’s stock.

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.