Norges Bank Purchases New Stake in Axon Enterprise, Inc $AXON

Norges Bank purchased a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 908,148 shares of the biotechnology company’s stock, valued at approximately $515,764,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its holdings in Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 15 shares during the last quarter. Wealth Alliance LLC raised its position in Axon Enterprise by 3.2% during the 3rd quarter. Wealth Alliance LLC now owns 583 shares of the biotechnology company’s stock valued at $419,000 after purchasing an additional 18 shares during the last quarter. Quadrant Capital Group LLC raised its position in Axon Enterprise by 0.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company’s stock valued at $2,848,000 after purchasing an additional 19 shares during the last quarter. CWA Asset Management Group LLC raised its position in Axon Enterprise by 5.2% during the 4th quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company’s stock valued at $220,000 after purchasing an additional 19 shares during the last quarter. Finally, Synergy Financial Group LTD raised its position in Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock valued at $996,000 after purchasing an additional 19 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $448.72 on Monday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The firm has a market capitalization of $36.17 billion, a P/E ratio of 180.21, a P/E/G ratio of 8.16 and a beta of 1.45. The stock has a 50 day moving average price of $407.53 and a 200-day moving average price of $494.02. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. During the same quarter in the prior year, the company earned $1.47 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

AXON has been the subject of a number of recent analyst reports. Barclays lowered their price target on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citizens Jmp lowered their price target on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. Royal Bank Of Canada decreased their price objective 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. Finally, UBS Group decreased their price objective on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Insider Transactions at Axon Enterprise

In related news, Director Jeri Williams sold 157 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $490.00, for a total value of $76,930.00. Following the completion of the transaction, the director directly owned 1,159 shares in the company, valued at $567,910. This trade represents a 11.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider owned 52,813 shares of the company’s stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,355 shares of company stock valued at $977,233. Corporate insiders own 4.20% of the company’s stock.

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.