Axon Enterprise, Inc $AXON Shares Purchased by KADENSA CAPITAL Ltd

KADENSA CAPITAL Ltd raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 65.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,072 shares of the biotechnology company’s stock after purchasing an additional 11,153 shares during the quarter. Axon Enterprise comprises 2.1% of KADENSA CAPITAL Ltd’s portfolio, making the stock its 20th largest holding. KADENSA CAPITAL Ltd’s holdings in Axon Enterprise were worth $20,146,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Axon Enterprise by 4.2% during the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after buying an additional 376,904 shares in the last quarter. Jennison Associates LLC raised its position in Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after acquiring an additional 330,213 shares in the last quarter. Vestor Capital LLC raised its position in Axon Enterprise by 438,636.3% in the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after acquiring an additional 833,409 shares in the last quarter. Norges Bank acquired a new stake in Axon Enterprise in the 2nd quarter valued at about $637,806,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Axon Enterprise by 22.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 680,983 shares of the biotechnology company’s stock valued at $563,813,000 after acquiring an additional 126,601 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AXON. Morgan Stanley lowered their price objective on shares of Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. UBS Group cut their target price on shares of Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Royal Bank Of Canada reduced their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Robert W. Baird set a $800.00 price target on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $820.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $762.93.

Axon Enterprise Trading Down 0.6%

Shares of AXON opened at $496.18 on Monday. The business’s 50-day moving average price is $531.08 and its 200 day moving average price is $608.20. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $39.89 billion, a P/E ratio of 326.44, a P/E/G ratio of 10.59 and a beta of 1.46. Axon Enterprise, Inc has a 1-year low of $396.41 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The company had revenue of $796.72 million during the quarter, compared to analyst estimates of $755.29 million. During the same period in the prior year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 38.5% on a year-over-year basis. Analysts expect that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Activity

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total value of $5,002,400.00. Following the completion of the transaction, the chief executive officer owned 3,090,997 shares of the company’s stock, valued at approximately $1,546,240,339.28. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the transaction, the chief accounting officer owned 12,240 shares in the company, valued at approximately $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,634 shares of company stock worth $13,803,095 over the last 90 days. 5.70% of the stock is owned by company insiders.

About Axon Enterprise

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.