Healthcare of Ontario Pension Plan Trust Fund Sells 7,338 Shares of Axon Enterprise, Inc $AXON

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 20.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 29,187 shares of the biotechnology company’s stock after selling 7,338 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Axon Enterprise were worth $12,395,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Baillie Gifford & Co. increased its position in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after purchasing an additional 1,516,099 shares during the last quarter. Edgewood Management LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $846,516,000. Wellington Management Group LLP lifted its position in Axon Enterprise by 326.9% during the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after purchasing an additional 1,179,038 shares during the last quarter. Norges Bank bought a new stake in Axon Enterprise during the fourth quarter valued at approximately $515,764,000. Finally, Sands Capital Management LLC grew its stake in Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after buying an additional 167,095 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $547.65 on Wednesday. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The stock has a market capitalization of $44.14 billion, a price-to-earnings ratio of 219.94, a price-to-earnings-growth ratio of 10.72 and a beta of 1.38. The company has a fifty day moving average of $488.89 and a 200-day moving average of $477.58. 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 issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. Equities research analysts expect that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Insider Activity

In related news, insider Isaiah Fields sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the transaction, the insider directly owned 52,813 shares in the company, valued at $21,125,200. This trade represents a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 58,989 shares of company stock valued at $30,527,983. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AXON shares. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Piper Sandler increased their target price on Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Citizens Jmp restated a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $725.25.

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.